UPDATE: Janney Capital Markets Downgrades Starbucks On Near-Term Concerns

In a report published Monday, Janney Capital Markets analyst Mark Kalinowski downgraded the rating on Starbucks Corporation (NASDAQ: SBUX) from Buy to Neutral.

In the report, Janney Capital Markets noted, “Longer-term, we remain excited about SBUX. Fiscal 2016 could benefit from the national rollout – expected to be complete by the end of calendar 2015 – of mobile ordering/payment app functionality. And, we still fully stick by our recent statement that we expect SBUX to become the largest market-cap restaurant stock by year-end 2025. So, longer-term oriented investors may view our commentary from a different perspective than shorter-term oriented investors do. All that said, our ratings look out 12 months, and we believe a Neutral is most appropriate at this time.”

Starbucks Corporation closed on Friday at $81.44.