Starbucks up after Baird Equity Research upgrades to 'outperform'
** Shares of coffee giant Starbucks SBUX.O up ~2% at $93.65 in the morning trade
** Brokerage Baird Equity Research raises rating to "outperform"" from "neutral", citing turnaround strategies under new leadership will be effective in transforming Starbucks into a better company
** Tangible evidence of progress toward better financial performance should provide a boost to investor sentiment, helping to support elevated valuation metrics on the shares as earnings start to rebound - David Tarantino, analyst with Baird
** Adds, sees potential for U.S. comparable sales to begin to improve over the next several quarters on the back of initiatives, including mid-August rollout of the Green Apron service model
** Eighteen of 39 brokerages rate the stock "buy" or "higher", 17 "hold" and four "sell" or "lower"; their median PT is $99, as per estimates compiled by LSEG
** Including session moves, stock up nearly 3% YTD
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