Baird upgrades Starbucks, says the turnaround picture is becoming clear

Starbucks may be set up for gains as its turnaround strategy takes hold over the coming quarters, according to Baird. The firm upgraded the coffee chain to outperform from neutral and increased its price target by $15 to $115. Its updated target calls for more than 25% upside from Monday's close. The stock has come under pressure in the past month, falling more than 3%, on the heels of its latest quarterly results showing its sixth consecutive quarter of same-store sales declines . But with CEO Brian Niccol saying that the company is "gaining momentum," analyst David Tarantino thinks growth could be around the corner. "We continue to have high conviction that turnaround strategies under new leadership will be effective in transforming Starbucks into a better company, and we expect visibili