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Fly News Breaks for July 18, 2016
SBUX
Jul 18, 2016 | 07:44 EDT
Cowen analyst Andrew Charles said Starbucks shares have been controversial during the quarter, as bears argue that its comps will slow due to the shift in the company's loyalty program reward structure. The analyst, however, believes any shortcoming's in the program will be more than offset by the intended benefits and expects minimal impact on quarterly results from the shift in the loyalty program. Charles reiterated his Outperform rating and $69 price target on Starbucks shares.
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