Brewing Caution: Jefferies Warms Up To Starbucks With Tepid Upgrade

1. Jefferies upgraded SBUX from Underperform to Hold with a $76 price forecast. 2. Analyst notes uncertainty around near-term earnings impacting consumer confidence. 3. Starbucks faces a slow earnings rebound amid cultural transformation and restructuring. 4. Rising coffee costs could pressure average check size in the second half. 5. Analyst expects clearer signals in coming quarters with stabilized leadership.