UPDATE: Barclays Upgrades Starbucks (SBUX) to Overweight

(updating comment)

Barclays analyst Jeffrey Bernstein upgraded Starbucks (NASDAQ: SBUX) from Equalweight to Overweight with a price target of $107.00 (from $90.00).

The analyst comments "SBUX offers an attractive combination of outsized global fundamental (i.e.
comp & unit) growth within both retail and consumer products. The tempering of long-term guidance
coupled with the recent fundamental re-acceleration, along with an acknowledged transition towards
maturity (i.e. cost management and return of excess cash) leaves us bullishly inclined."

For an analyst ratings summary and ratings history on Starbucks click here. For more ratings news on Starbucks click here.

Shares of Starbucks closed at $88.88 yesterday.

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