Starbucks CEO says dairy prices a bigger issue than coffee prices Starbucks CEO Howard Schultz said on CNBC that dairy prices are a bigger issue than coffee prices. He said the market has "overreacted" and "misread" the rise in the price of coffee's impact on the company. Schultz said Starbucks may have to raise its grocery prices but does not plan on raising prices at its stores.
On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: Autoliv (ALV) downgraded to Underperform from Outperform at Exane BNP Paribas... Baxter (BAX) downgraded to Neutral from Outperform at Credit Suisse... Carter's (CRI) downgraded to Buy from Conviction Buy at Goldman... Fiat Chrysler (FCAU) downgraded to Neutral from Outperform at Exane BNP Paribas... H&E Equipment (HEES) downgraded to Sector Weight from Overweight at KeyBanc... L'Oreal (LRLCY) downgraded to Sell from Neutral at Citi... Marchex (MCHX) downgraded to Equal Weight from Overweight at Stephens... NASDAQ (NDAQ) downgraded to Market Perform from Outperform at Keefe Bruyette... Starbucks (SBUX) downgraded to Buy from Conviction Buy at Goldman... Towers Watson (TW) downgraded to Hold from Buy at Deutsche Bank... Tuesday Morning (TUES) downgraded to Accumulate from Buy at Johnson Rice... United Rentals (URI) downgraded to Sector Weight from Overweight at KeyBanc.
Starbucks downgraded to Buy from Conviction Buy at Goldman Goldman removed Starbucks from the Conviction Buy List and maintained its Buy rating and $57 price target based on relative valuation versus the group.