shares of Starbucks Corporation SBUX remained under pressure in early trading on Friday after the company’s fiscal first quarter The result fell short of expectations.

Stephen’s at Starbucks

analyst Joshua Long maintained an equal weight rating and price target of $91.

“Starbucks reported Q1’23 results that included strong trends in the US (with positive traffic) of digital and cold beverages, offset by choppy but improving same-store sales in China,” Long wrote in a note .

“As the year progresses, we expect continued sequentially lower margins in Q2’22 with scope for margin expansion in the second half as China recovers and initiatives take hold in the current operating environment,” he added.

Wedbush on Starbucks

analyst Nick Setjan reiterated a Neutral rating and a price target of $110.

“The FQ1 US Comp of 10.0% was driven by an average of 9%. Review growth and a 1% increase in transactions,” Setyan said.

“We continue to anticipate enhanced customer mobility, headcount/training investments, operational initiatives to increase capacity and throughput, and favorable loyalty changes to drive SSS growth in the near to mid-term,” he added.

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KeyBanc Capital Markets on Starbucks

analyst Eric Gonzalez reiterated an assessment of sector weighting.

“Starbucks F1Q23 EPS missed consensus forecasts as results were weighed down by a 29% SSS decline in China, representing a ~$0.06 drop in EPS compared to previous estimates,”

“Despite COVID-related headwinds in China, which are likely to continue into the second quarter, the company has revised its full-year guidance on strong SSS momentum outside of China, outsized growth in licensed businesses and a modest increase in FX (in Q2). compared to previous expectations). ,” he added.

Credit Suisse on Starbucks

Analysts kept a market outperform rating and a price target of $122.

Starbucks US same-store sales reflect “continued momentum” and “should continue to encourage confidence in SBUXs…