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Fly News Breaks for August 22, 2017
SBUX
Aug 22, 2017 | 09:10 EDT
Morgan Stanley analyst John Glass said the market has "quietly" adjusted to a more moderate long-term growth rate for Starbucks of 12%-17%. The analyst expects shares to hold its current valuation of 23x given a near best-in-class 25%+ ROIC, and sees upside once earnings visibility is reestablished. Glass maintains an Overweight rating on Starbucks and trimmed his price target to $62 from $68.
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