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Benzinga
Benzinga
Business
Melanie Schaffer

Starbucks Stock Buzzes Higher Following Upgrade, CEO Change: Here's How Some Traders Predicted The Spike

Starbucks SBUX Starbucks Corporation

Starbucks Corporation (NASDAQ:SBUX) spiked up 8.39% on Wednesday before retracing below the stock’s opening price of about $88.

JPMorgan analyst John Ivankoe upgraded Starbucks from Neutral to Overweight and announced a price target of $101. If Starbucks is able to reach the target, it will represent about a 15% increase from the stock’s current price.

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