Starbucks (SBUX) shares tumbled 5.30% in pre-market trading on Friday, following news that Bernstein has reduced its target price for the coffee giant. The influential research firm lowered its price target on Starbucks to $105 from $115, potentially sparking investor concerns about the company's near-term outlook.

Despite the price target cut, Bernstein maintained its Outperform rating on Starbucks stock. This suggests that while the firm sees some headwinds, it still believes in the company's long-term prospects. The adjustment comes as analysts continue to assess Starbucks' growth potential and market position in an increasingly competitive global coffee market.

It's worth noting that despite this recent target price reduction, Starbucks still maintains an average rating of overweight among analysts polled by FactSet, with a mean price target of $107.57. This indicates that overall, analysts remain generally positive about the company's future performance. However, today's pre-market plunge suggests that investors are reacting strongly to the near-term adjustment in expectations.