Piper Jaffray Reiterates Overweight Rating on Starbucks

According to Piper Jaffray, Starbucks (NASDAQ: SBUX) Overweight rating is reiterated.

Piper Jaffray said that it is increasing its (initially conservative) estimates following recent checks and what it believes is building consumer interest in the CPG and single-serve coffee categories during the 2011 holiday season. “We are reiterating our OW rating and $55 price target.”

Starbucks closed yesterday at $43.62.