UPDATE: Deutsche Bank Raises PT to $59 on Starbucks

Deutsche Bank increases its price target on Starbucks

to $59, up $6, as the company introduces enters the single-serve market. Deutsche Bank says, "SBUX announced that it is introducing a new, single-cup coffee machine called Verismo. This was somewhat surprising since almost 1 year ago to the day SBUX announced a multi-year partnership with Green Mountain Coffee Roasters. This announcement speaks to the leverage that the SBUX brand has in the broader coffee market, and it is encouraging to see the company putting this leverage to work without putting significant company capital at risk." SBUX closed at $50.37 a share yesterday.