∞ALPHA

TD Cowen upgrades Starbucks to Buy, lifting the price target to $120 (13% upside). Firm sees “tangible drivers” for better sales: labor investment, margin recovery, lower COGS. Forecasts 4% same‑store sales growth in FY2028, above Street’s 3.4%. Starbucks is in the early stages of a North America turnaround after a two‑year slump. The “Back to Starbucks” plan—marketing, menu, loyalty overhaul—is showing traction. Shares are up 26% YTD, pacing for the first annual gain since 2