NEW YORK (TheStreet) -- Shares of Starbucks (SBUX) - Get Report were falling in early afternoon trading as Wedbush lowered its price target to $65 from $70 and maintained an "outperform" rating on the stock.
The Seattle-based coffee retailer has struggled lately, shares slipping close to a 12-month low as customers avoid spending money on food from home, Investor's Business Daily reports.
Separately, Starbucks announced today that it would expand its national initiative to invest in lower-income urban communities.
The company opened its first store in the South side of Chicago today and said it plans to expand the initiative into five new communities next year, including Baltimore, Birmingham, Miami, Seattle and Long Beach, CA.
The low-income initiative allows Starbucks to create jobs, provide skills training and invest in local businesses, according to the company.
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Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of A.
The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, revenue growth, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
You can view the full analysis from the report here: SBUX