Starbucks has ripped higher this year. TD Cowen sees more room to run

Cnbc · May 14, 2026 · 269 words · By Liz Napolitano

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What to know about Starbucks has ripped higher this year. TD Cowen sees more room to run

Starbucks' strategy shift will drive the stock even higher from where it trades now, according to TD Cowen.

Claims checked 10

Techniques found 0

Topics 0

Coverage spectrum

Coverage gap: Low Left coverage

Left0%

Center75%

Right25%

4 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

Starbucks' strategy shift will drive the stock even higher from where it trades now, according to TD Cowen.

Why it matters

The research firm upgraded the coffee chain to buy from hold.

Common ground

It also hiked its price target on shares to $120 from $106, implying 13% upside from Wednesday's close.

Perspective signals

No major persuasion pattern has been attached yet, so the source, headline, and evidence should carry most of the weight for readers.

Follow-up questions

What concrete event or decision sits underneath the headline: Starbucks has ripped higher this year. TD Cowen sees more room to run?
What evidence would most clearly confirm or weaken the claim that The cafe operator saw its sales slump for nearly two years, beginning around 2023?
What should readers watch for in the next update to know whether the story is changing?

open_in_new Read the original article: https://www.cnbc.com/2026/05/14/starbucks-has-ripped-higher-this-year-td-cowen-s…

fact_checkClaims Checked

eFinder analyzed this article and checked 10 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

info Single Source 5

check_circle Corroborated 2

help Insufficient Evidence 2

cancel Disputed 1

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Claim 1: “The cafe operator saw its sales slump for nearly two years, beginning around 2023.”

CORROBORATED

One source explicitly states that Starbucks 'hasn't reported same-store sales growth for nearly two years', and another mentions a 'run of declines' in the key metric, supporting the claim of a sales slump starting around 2023.

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web search NEUTRAL — Starbucks serves hot and cold drinks, whole-bean coffee, micro-ground instant coffee, espresso, caffe latte, full and loose-leaf teas, juices, Frappuccino beverages, pastries, and snacks.
https://en.wikipedia.org/wiki/Starbucks

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web search NEUTRAL — Most companies reporting this quarter are experiencing sales and traffic growth as we lap last year’s COVID-19 Omicron challenges. Starbucks is no exception, reporting 11% global same-store sales grow…
https://www.nrn.com/restaurant-labor/a-tale-of-two-starbucks…

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web search NEUTRAL — Starbucks hasn't reported same-store sales growth for nearly two years, so Wednesday's earnings announcement, which included a mention of a 1% increase in those sales last quarter should have been cau…
https://qz.com/starbucks-q4-earnings-turnaround-starting-to-…

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Claim 2: “shares rising 26% year to date.”

SINGLE SOURCE

The evidence shows shares rising by 3% or 5% on specific days, but there is no data provided to confirm a year-to-date rise of 26%.

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web search NEUTRAL — Starbucks expects annual global same-store sales growth of about 5% or more, above its earlier expectations of at least 3%. Despite higher sales, North American operating margins fell to 9.9% from 11.…
https://www.businessday.co.za/world/2026-04-29-starbucks-sha…

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web search NEUTRAL — Starbucks Corporation (NASDAQ: SBUX) shares gained around 5% on Wednesday after the company reported better-than-expected first-quarter sales results.
https://www.benzinga.com/markets/market-summary/26/01/501927…

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web search NEUTRAL — Starbucks shares NASDAQ:SBUX rose about 3% in early trading on Wednesday as the coffee chain's strong quarterly sales signaled CEO Brian Niccol's turnaround plan was bearing fruit.
https://www.tradingview.com/news/reuters.com,2025:newsml_L4N…

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Claim 3: “However, it began reversing the decline late last year.”

SINGLE SOURCE

One source mentions a '1% increase in those sales last quarter' as a cause for celebration, suggesting a reversal of the decline, but other sources provided are irrelevant (menu items).

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web search NEUTRAL — Explore our menu of handcrafted drinks, order ahead, sign up for Starbucks® Rewards, manage your gift card and more.
https://www.starbucks.com/

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web search NEUTRAL — 3 days ago · The summer menu at Starbucks arrives on Tuesday, May 12. Here's a look at the new items that will be available.
https://www.usatoday.com/story/money/food/2026/05/11/starbuc…

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web search NEUTRAL — 3 days ago · Starbucks’ summer menu is led by the new Tropical Butterfly Refresher, a layered, customizable drink with a butterfly pea infusion and fruity flavors. The seasonal lineup also brings back…
https://www.foodandwine.com/starbucks-summer-menu-2026-11971…

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Claim 4: “If that gain holds, it would mark Starbucks' first annual gain since 2021.”

INSUFFICIENT EVIDENCE

No evidence was provided for this claim.

info

Claim 5: “Its forecast comes in above the Street's consensus estimate of 3.4%”

SINGLE SOURCE

The search results discuss general same-store sales and location growth, but do not mention a specific Wall Street consensus estimate of 3.4% for fiscal year 2028.

travel_explore

web search NEUTRAL — Starbucks Locations and Same-Store Sales Performance. Starbucks operated 41,097 locations globally by the end of Q2, up from 39,477 a year ago. This 5.7% annual expansion places Starbucks among the fa…
https://www.bitrue.com/blog/starbucks-sbux-q2-2025-stock-pri…

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web search NEUTRAL — Starbucks’ North American same-store sales were flat in the fourth quarter of the chain’s fiscal 2025, according to the brand’s earnings release, ending a run of declines in the key metric.
https://www.restaurantdive.com/news/starbucks-stanches-the-s…

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web search NEUTRAL — In the first three months of the year, Starbucks' global same-store sales fell 10% as the pandemic hit locations in China and the U.S., its two largest markets. The company estimated that it lost $915…
https://www.cnbc.com/2020/05/21/starbucks-same-store-sales-i…

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Claim 6: “The research firm [TD Cowen] upgraded the coffee chain to buy from hold.”

CORROBORATED

Multiple independent web sources (Fintel, and two other reports) confirm that TD Cowen upgraded Starbucks from Hold to Buy.

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web search NEUTRAL — Fintel reports that on August 13, 2024, TD Cowen upgraded their outlook for Starbucks (SNSE:SBUXCL) from Hold to Buy.
https://www.nasdaq.com/articles/td-cowen-upgrades-starbucks-…

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web search NEUTRAL — TD Cowen has changed its rating for Starbucks (NASDAQ: SBUX) from Hold to Buy, adjusting the price target upwards to $105 from the previous $81.AI-powered stock picks with a proven track record to bea…
https://www.investing.com/news/company-news/td-cowen-upgrade…

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web search NEUTRAL — TD Cowen upgraded Starbucks from Hold to Buy and set a new price target of $105.00 from $81.00 previously.
https://quantisnow.com/insight/starbucks-upgraded-by-td-cowe…

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Claim 7: “Starbucks' turnaround follows the implementation of its "Back to Starbucks" plan”

SINGLE SOURCE

While sources mention 'turnaround efforts' and 'CEO Brian Niccol's turnaround plan', the specific phrase 'Back to Starbucks' plan is not explicitly corroborated across multiple independent sources in the provided evidence.

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web search NEUTRAL — Explore our menu of handcrafted drinks, order ahead, sign up for Starbucks® Rewards, manage your gift card and more.
https://www.starbucks.com/

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Claim 8: “TD Cowen expects Starbucks to notch a 4% increase in its same-store sales in fiscal year 2028.”

SINGLE SOURCE

The search results for this claim provide general information about TD Bank and auto finance, but no specific financial forecasts for Starbucks' 2028 same-store sales.

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web search NEUTRAL — Toronto-Dominion Bank (French: Banque Toronto-Dominion), doing business as TD Bank Group (Groupe Banque TD), and commonly known as just TD, is a Canadian multinational banking and financial services c…
https://en.wikipedia.org/wiki/Toronto-Dominion_Bank

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web search NEUTRAL — TD Auto Finance offers a wide selection of financing options and terms to fit your needs. Discover dealers in your area that offer financing with TD Auto Finance.
https://www.tdautofinance.com/app/index.html

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web search NEUTRAL — Manage accounts on the go. Everyday banking, all in one app. Bank how you want, when you want. Pay your bills with ease, deposit checks 24/7, transfer money between your accounts, and more.
https://apps.apple.com/us/app/td-bank-us/id382107453

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Claim 9: “It also hiked its price target on shares to $120 from $106”

DISPUTED

The evidence provides conflicting price targets from TD Cowen. Some sources cite an upgrade to $105 from $81, while another mentions an adjustment to $110 from $105. None of the provided evidence sources confirm the specific $106 to $120 move mentioned in the claim.

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web search NEUTRAL — TD Cowen Adjusts Price Target on Starbucks to $110 From $105, Maintains Buy Rating.SBUX Stock. News Starbucks Corporation. Starbucks Shares Down 1.7% After Td Cowen Downgrades To Market P…
https://ca.marketscreener.com/quote/stock/STARBUCKS-CORPORAT…

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web search NEUTRAL — Quick Take. TD Cowen reiterated its “buy” rating and $16 price target on Sharplink following first quarter 2026 earnings, calling the company’s new Galaxy Digital co-managed yield fund and a 0.8x disc…
https://www.theblock.co/post/400920/favorable-setup-td-cowen…

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web search NEUTRAL — TD Cowen has reaffirmed its Buy rating and $16 price target for Sharplink (NASDAQ: SBET), a publicly traded company that accumulates Ethereum (ETH).Sources. TD Cowen Stands by $16 Price Target for Sha…
https://coinalertnews.com/news/2026/05/12/td-cowen-sharplink…

help

Claim 10: “Of the 40 analysts covering Starbucks, just 18 have a buy or strong buy rating on the stock, while 20 have a hold on it, LSEG data shows.”

INSUFFICIENT EVIDENCE

No evidence was provided for this claim.

info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.