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McAdams Wright Ragen reiterates a Hold rating on Starbucks
SBUX 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.
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