Starbucks down after TD Cowen cuts to 'hold' as it sees higher risks to sales

Shares of coffee chain Starbucks SBUX.O down 1% at $85.00 in premarket trading

TD Cowen cuts rating on stock to "hold" from "buy" as the company invests in CEO Brain Niccol's plan to revive demand at its stores

TD Cowen data suggests deteriorating value perceptions and narrowing quality perceptions for SBUX relative to peers in 2025 - brokerage

Brokerage sees reduced visits this year from customers who frequented stores at least weekly, increasing pressure on U.S. same-store sales

SBUX settling into a new base of earnings that differs from Wall Street expectations - TD Cowen

In April, Niccol had said the company faces challenges in reviving its business as sales in the U.S., its biggest market, continue to be a drag

Stock down 5% so far this year