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Fly News Breaks for April 18, 2019
SBUX
Apr 18, 2019 | 07:12 EDT
Oppenheimer analyst Brian Bittner raised his price target for Starbucks to $81 from $72 on valuation as he remains confident in drivers behind healthy same-store sales. Nonetheless, the analyst recognizes that multiple expansion is difficult to justify in near-term. Bittner reiterates an Outperform rating on the stock, particularly ahead of an accelerating earnings scenario he envisions in 2020.
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