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Starbucks Dips As Wall Street Worries Its Run Out Of Room For Growth

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Associated Press/Richard Drew Piper Jaffray cut it's price target for Starbucks to $53 from $60. The firm is worried US sales growth could be stalling, and says the stock will remain range bound until trends improve. Shares of Starbucks fell about 1.8% in trading Wednesday following the downgrade. Starbucks slid 1.8% in trading Wednesday after Piper Jaffray cut its recommendation to "neutral" from "overweight," citing a slowdown in US same-store sales. Piper's new price target is $53 a share — down from $60 in June, and $70 for the better part of 2017.

Added on the 22/08/2018 19:05:50 - Copyright : Wochit

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