Starbucks Stock Downgraded on Stale Technical Setup

Shares of Starbucks Corp (NASDAQ:SBUX) are 1.1% lower this morning, following a downgrade to "sell" from "neutral." Specifically, Redburn Atlantic downgraded shares of the coffeehouse chain and lowered its price target from $84 to$77, citing the consensus outlook for the company that does not "adequately reflect" the associated costs. The Wall Street analyst pointed towards Starbucks' recently suspended outlook and the fact that same-store sales, net revenue, and income all declined in the fourth quarter. ...