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SBUX Upgraded by Wells Fargo

After meeting with Starbucks Corporation’s (NASDAQ:SBUX) management team, Wells Fargo & Co (NYSE:WFC) upgraded the coffee chain giant to outperform from market perform. After the meeting, Wells Fargo said it was increasingly positive about Starbucks growth prospects for the near and long term. As a result, the price target was raised from $74 per share to $88 per share. Wells Fargo was really impressed by Management’s strategic vision for the future.