U.S. Markets closed

Starbucks Stock Moves into Oversold Territory

Justin Kuepper

Starbucks Corporation ( SBUX) shares fell more than 14% since the company reported its third quarter guidance. The iconic coffee chain anticipates just 1% growth in comparable store sales during the third quarter, which fell short of consensus estimates. Several analysts, including Morgan Stanley, Cowen & Co. and Kelsey Advisors, responded by trimming their price targets and lowering their ratings, although Oppenheimer analysts remain optimistic about the future for Starbucks.