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Why Starbucks' Shares Are Down Again Today


Shares of Starbucks (NASDAQ: SBUX) were down on Monday, as investors and analysts came to terms with the growing likelihood of extended retail shutdowns in North America and Europe. 

As of 2:45 p.m. EDT, Starbucks' shares were down about 4% from Friday's closing price.

In a note on Monday morning, MKM Partners analyst Brett Levy downgraded Starbucks to neutral, from buy, cutting his price target to $52 from $92. Levy said the company's decision to move to a takeout-only business model in the U.S. won't be enough to sustain its results over the near term, and that it has no way to fully offset the likely lost revenue. 

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Source Fool.com

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