UPGRADE: McAdams Wright Ragen Reiterates Hold on Starbucks

McAdams Wright Ragen reiterates a Hold rating on Starbucks

and a price target of $50. McAdams Wright Ragen notes, “Starbucks yesterday announced a new single cup brewing platform, the Verismo System by Starbucks, which it will market and sell through a relationship with Krueger (Krueger will manufacture the brewing machines and package the pods, while Starbucks will roast and supply the coffee).” Starbucks closed at $54.07 on Thursday.