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StocksMediumUpdated•Originally published 13 April 2026•Updated 13 April 2026•
1 min read

Jefferies Upgrades Starbucks to Hold as China and U.S. Outlook Improves

Key Facts

1Jefferies upgraded Starbucks shares from Underperform to Hold.
2The price target was raised to $92 from $86.
3The upgrade is attributed to improved visibility regarding a China franchise exit and stabilization in the U.S. market.

Jefferies has upgraded Starbucks (SBUX) shares from Underperform to Hold, signaling a shift toward a more constructive view of the coffee giant's prospects. Alongside the upgrade, the investment bank raised its price target for the stock to $92 from a previous $86. Analysts attributed the move to improved visibility regarding a potential exit from its China franchise operations and signs of stabilization in the U.S. market. Furthermore, Jefferies highlighted a clearer path to execution under the leadership of CEO Brian Niccol as a key factor in the balanced outlook. However, the firm noted that Starbucks shares continue to trade at a premium it considers difficult to justify, despite the rating upgrade. This rating change reflects growing confidence in strategic shifts aimed at optimizing performance, even as valuation concerns persist.