From Earlier: Piper Jaffray Lowers Starbucks PT, Reiterates Overweight

Piper Jaffray lowered its Starbucks

price target from $70 to $67 and reiterated the company's Overweight rating in a research report published today. In the report, Piper Jaffray stated, "While our earnings and price target are ticking down slightly, we believe the LT growth story is as solid as ever. Additionally, our recent check of 10 stores in Texas suggests the recent "soft launch" of K-Cups into the retail/store channel is on track to potentially drive traffic as consumer awareness increases." Later in the report, Piper Jaffray stated, " Specific to the single-serve arena, we continue to believe brand equity matters and that Starbucks maintains one of the most prominent global reputations." Shares of Starbucks closed today at $52.40, up 0.89% from Tuesday's close, and dropped 0.17% to $52.31 in Thursday after-market trading.