Starbucks upgraded to Outperform from Market Perform at Wells Fargo Wells Fargo upgraded its rating on Starbucks to Outperform from Market after meeting with management and raised its price target range for shares to $87-$89 from $74-$76. Wells is positive on Starbucks' loyalty programs and digital offerings and believes the company is entering a new era of growth. Shares of Starbucks closed yesterday up $1.87 to $72.36.
News For SBUX From The Last 14 Days
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Starbucks may remain range-bound near-term, says Oppenheimer Oppenheimer believes that the recent increases in coffee prices are "manageable" for Starbucks (SBUX), but have "put a major strain" on its ability to outperform 2015 expectations. The firm thinks the stock could remain range-bound in the near-term, and prefers Yum! Brands, (YUM) which the firm thinks can beat EPS estimates and has multiple expansion drivers. But the firm still believes that Starbucks has multiple positive comps catalysts, and it keeps an Outperform rating on the stock.