Starbucks Off of ‘Conviction Buy' List; AT&T, InterContinental Hotels Get Lift

In Wednesday's Analysts' Actions, TheStreet highlights three companies; Starbucks Corp (SBUX), AT&T Inc (T) and InterContinental Hotels Group (IHG). Goldman Sachs analysts removed Starbucks from its ‘Conviction Buy’ list, following the coffee chain’s recent share price run-up. The firm maintained its BUY rating with a $57 price target based on relative valuation. Analysts at MKM Partners upgraded InterContinental Hotels Group to BUY from NEUTRAL with a $50 price target. The firm cited the hotel company’s strong, high-quality franchise model. It added that it is more likely to be involved in the lodging industry consolidation compared to rival, Choice Hotels International Inc (CHH). And, analysts at Oppenheimer raised their price target on shares of AT&T to $40 from $36. The firm maintained its OUTPERFORM rating on the name. TheStreet's Kurumi Fukushima reports from New York.