11:25 AM EDT, 05/15/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

SBUX announced layoffs and plans to close non-retail support facilities, expecting $400M of FY 26 (Sep.) restructuring charges: $280M non-cash impairment (Reserve/Roastery locations, support facilities) and $120M cash severance. This continues the 'Back to Starbucks' ( SBUX ) $2B cost savings plan. While we view cost discipline positively, we maintain our Sell rating and 12-month price target of $82 (30x FY 27 EPS). At $108, shares trade at 40x NTM P/E, embedding a sustained SSS recovery we believe is at risk as comparisons normalize in 2H. Recent SSS strength exceeded estimates, but SBUX is lapping historically weak periods. Q2's margin expansion was encouraging, though we attribute much of the improvement to China JV accounting rather than core operations. Today's restructuring does not alter our view that valuation remains stretched with 24% downside to our target. We would revisit our rating on SSS durability through tougher compares or material multiple compression.