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Fly News Breaks for March 27, 2017
SBUX
Mar 27, 2017 | 07:34 EDT
Telsey Advisory analyst Robert Derrington initiated Starbucks with an Outperform and a $66 price target saying he views shares as a best in class large cap growth story with an attractive valuation. The analyst believes the recent discounted valuation reflects some concerns about recent perceived softer same-store-sales trends and earnings growth to be toward the 5 year low. Derrington expects valuation to improve as operating trends solidify, and said shares are supported by its 2% dividend yield.
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