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TD Cowen analyst Andrew Charles said Thursday that Wall Street’s earnings expectations for Starbucks Corp. haven’t taken into account labor costs or the fact that the coffee giant faces disgruntled customers and increasing competition.
Charles downgraded Starbucks’ stock
SBUX to hold from buy and said turnaround efforts by former Chipotle Mexican Grill Inc. CMG Chief Executive Brian Niccol, now at the helm of the coffee giant, may run into more complications than some bulls may believe.
This post was originally published on Market Watch
