UPDATE: Williams Capital Group Downgrades Starbucks to Hold on Near-Term Challenges - Starbucks (NASDAQ:SBUX)

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.

Williams Capital Group lowered its rating on Starbucks (NASDAQ: SBUX) from Buy to Hold and reduced its price target from $70 to $49.Williams Capital Group commented, "Our downgrade reflects the near-term challenges to our long-term investment thesis for the company. We no longer expect to see improving same-store-sales or margin expansion in the near-term and we now expect the benefits of lower coffee costs will likely be offset by increases in investment spending. We believe that Starbucks continues to have attractive growth drivers, but no one is immune to overall spending reductions."Starbucks closed at $45.90 on Wednesday.

27% profit every 20 days?

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!