Starbucks Corp. was removed from Goldman Sachs' "conviction buy" list on Monday on concern about slowing U.S. same-store sales trends.
Goldman Sachs, however, said it still rates Starbucks a buy because its U.S. comparable sales "remain firmly in the mid-to-high single digits," driven by underlying business strength. "We continue to believe (Starbucks) is in the early stages of its global expansion," Goldman Sachs analysts said. Starbucks was little changed in premarket trading.
