Starbucks Corp (SBUX  ) reported mixed fiscal fourth-quarter results on Wednesday. Here are some key analyst takeaways:

  • TD Cowen analyst Andrew Charles maintained a Buy rating and price target of $84.
  • BTIG analyst Peter Saleh reiterated a Buy rating and price target of $105.
TD Cowen: Starbucks' North America same store sales turned positive in September and improved further in October, Charles said in a note. Awareness of the company's protein beverage platform launched on Sept. 29 has continued to grow, he added.

Management indicated that the closure of 435 stores in the fourth quarter helped Starbucks' performance in October, the analyst stated.

"While F2026 guidance will not be provided until the January 29 investor meeting, same store sales are expected to build as the year progresses based on advancements with the turnaround," he further wrote.

BTIG: Starbucks reported its best quarterly performance since under the leadership of Brian Niccol, Saleh said. The company delivered a sales beat in North America and International, with a return to positive comp growth, he added.

Global same-store sales of 1% topped consensus estimate of a 0.3% contraction, while North America comps were flat, 90 basis points (bps) ahead of consensus, the analyst stated. "While Starbucks is a long way from declaring victory, this quarter showed some progress toward management's goals," he further wrote.

Price Action: Shares of Starbucks had risen by 0.90% to $84.93 at the time of publication on Thursday.