We're raising our price target on Starbucks after a robust beat-and-raise quarter

Shares of Starbucks rallied on Tuesday after the coffee giant topped Wall Street estimates and lifted its full-year outlook — a major signal that CEO Brian Niccol's turnaround plan is gaining momentum. Revenue in the three months ended March 29 totaled $9.53 billion, up 8.8% year over year and beating the consensus estimate of $9.16 billion, according to LSEG data. Adjusted earnings per share (EPS) came in at 50 cents, beating an expectation of 43 cents, LSEG data showed. …