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Starbucks (SBUX) Stock Up on Mixed Q3 Results

NEW YORK (TheStreet) -- Shares of Starbucks (SBUX) are rising by 0.54% to $57.91 in mid-morning trading Friday, as the Seattle-based coffee chain reported mixed third quarter results after Thursday's closing bell.

Starbucks posted adjusted earnings of 49 cents per share on revenue of $5.2 billion - a 7% increase year-over-year. Analysts projected earnings of 49 cents per share on revenue of $5.3 billion for the company.

Additionally, Barclays lowered its price target on Starbucks to $60 from $62 and reiterated its "equal weight" rating on the stock. Still, the firm said it remains bullish on Starbucks in the long term.

"Broadly speaking, we continue to believe SBUX is a leading global growth story, with...


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