Fly News Breaks for May 21, 2018
SBUX
May 21, 2018 | 07:42 EDT
In a research note titled "Far from Perfect, but Good Enough for Where Stock is," JPMorgan analyst John Ivankoe says he likes Starbucks' risk/reward profile at current share levels. Following the company's first ever in-country analyst day focused on China, the analyst believes "multiple downside is very limited." Downside risk in the stock comes from earnings, not multiple compression, Ivankoe tells investors. He keeps an Overweight rating on Starbucks with a $64 price target.
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