Starbucks Shares Downgraded by Malaysian Bank Amid Covid-19 and Inflation
A Malaysian bank has issued a sell recommendation for Starbucks shares, citing the impact of the Covid-19 pandemic and the rising cost of living on consumer spending. Bank Rakyat Malaysia (BRM) said in a note on Friday that it expects Starbucks to face lower demand and margins in the second half of 2023, as consumers cut back on discretionary spending …