Starbucks (SBUX.US) gets a target price raised to $107 by Citi after earnings: growth logic shifts to margin expansion, but high valuation still requires performance support

According to Golden Ten Data, Starbucks (SBUX.US) released its fiscal Q4 2026 earnings report after the US market closed on Thursday, October 29. The report showed that Starbucks' Q4 revenue was $9.14 billion, down about 4% year-on-year and lower than the market expectation of $9.22 billion. The decline was mainly due to the shift of its China retail business to a joint venture licensing model with Boyu Capital, resulting in the exclusion of these operations from consolidated statements. On the profitability side, the performance was strong with net profit reaching $677 million, a year-on-year increase of over fourfold, partly reflecting reduced restructuring and impairment charges. Adjusted earnings per share were $0.80, up 54% year-on-year and above analyst forecasts of $0.72.