$SBUX — SELL 📊 | 6 MONTHS THESIS

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee internationally. 🎯 FQ3 FY2026 (ends Jun) | reported Jul 29 | Rev $9.3B | Adj EPS $0.85 vs $0.65 🟢 | GAAP EPS $0.92 | GAAP op margin 10.5% 💡 Consensus may be upgrading after the beat, but the market already prices in robust growth that the business cannot deliver; revenue decline and margin of 10.5% suggest stagnation. We expect multiple compression toward the sector average. 🏢 Business Quality: 7/10 📊 Valuation: rich — run-rate P/E 31x, sector peers 8–15x, base target $46 (14.8x forward EPS $3.10) implies >50% downside; DCF implies 5.7% FCF growth, which is... 🔮 Catalyst: No near-term positive catalyst; FQ3 beat already priced ⚖️ Sell: overvalued after a beat, with no catalyst and a risk/reward that strongly favors downside. 📊 Our read: SELL. Full analysis → https://stockduty.xyz/s/SBUX0802 Also in play: $AMZN $TSLA $HD $MCD $TJX

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee internationally.