Barclays analyst Jeffrey Bernstein raised its Starbucks (NASDAQ:SBUX) price target to $123 from $121 and maintained an “overweight” rating. Starbucks had strong U.S. same-store sales growth in the fiscal first quarter, in line with consensus expectations, but lower-than-expected same-store sales in China had some impact on margins and profits, the analyst said. Still, Starbucks reiterated its fiscal 2023 guidance, showing the company’s confidence in growth momentum in the rest of the world and an upturn in the Chinese market.