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Fly News Breaks for April 22, 2016
SBUX
Apr 22, 2016 | 07:46 EDT
JPMorgan analyst John Ivankoe believes "opportunistic buyers" should view share weakness in Starbucks as an opportunity since he does not expect the stock to become cheap due to the longevity of the company's growth. The analyst notes that his call for several quarters now has been about Starbucks delivering longevity, but not upside. He believes the company's 15%-20% earnings growth is intact following its Q2 results. Ivankoe keeps an Overweight rating on the name with a $68 price target. He believes share levels below $60 offer a "buy and hold" entry price.
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