Starbucks Initiated at Neutral with $97 Target, Plans Nashville Supply Chain Hub
DA Davidson initiated coverage of Starbucks with a Neutral rating and set a $97 price target, citing unclear timeline for margin recovery and fiscal 2028 EPS guidance. Starbucks will open a corporate office in Nashville later this year to manage North American supply chain teams and add new roles.
1. Analyst Initiates Neutral Coverage
On March 6, DA Davidson began coverage of Starbucks with a Neutral rating and a $97 price target, noting that the company’s ongoing turnaround lacks clear visibility on reaching fiscal 2028 margin targets and EPS growth, with uncertainty in same-store sales improvements and flow-through margins.
2. Nashville Office Expansion
Starbucks plans to open a new Nashville office later this year to house North American supply chain teams, offering relocation opportunities to dozens of Seattle employees and creating additional roles in Tennessee, aiming to strengthen its corporate footprint in the central and southern US.