(CercleFinance.com) – The title Starbucks shows Monday one of the strongest declines of the Nasdaq 100 index, penalized by the lowering of recommendation of the analysts of Deutsche Bank, which they justify by questions of valuation.
A little over an hour after the opening, the action of the American chain of cafes fell by more than 1.4%, while the Nasdaq 100 index lost around 0.9%.
In a research note released in the morning, Deutsche Bank advised investors to steer clear of the stock, citing a risk/return profile deemed much better balanced after the ‘excellent’ quarterly results released last month.
While it acknowledges that the value may exceed the $100 threshold thanks to optimism surrounding a relaxation of anti-Covid measures in China, the research office estimates that the title has already done a large part of the way by reaching the threshold of 105 dollars.
He also recalls that the threat of a recession in the United States has not yet disappeared.
DB thus lowers its recommendation on the title to ‘hold’ against ‘buy’ so far, while raising its price target from 100 to 106 dollars.
Thanks to a rebound of more than 24% over the past three months, Starbucks has posted a limited loss of around 10% since the start of the year, compared with a decline of 27% for the Nasdaq 100 over the same period. .
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