Yesterday, Starbucks shares rose nearly $2 after analysts at Citibank released a study comparing the major coffee shop to Dunkin Donuts following the drop in coffee prices. The firm took into account that Starbucks have around 48% more stores than Dunkin Donuts and that the coffee shop has more of a global presence, leading Citibank to release a buy rating on the chain. Furthermore, despite the decline in coffee prices, Starbucks fix its coffee prices 18 months in advance and therefore is unlikely to affect the company earnings. The share price of the stock closed at $94.3 at the close of yesterday’s U.S. session.
Stock News April 3rd 2015
Yesterday, Starbucks shares rose nearly $2 after analysts at Citibank released a study comparing the major coffee shop to Dunkin Donuts following the drop in coffee prices. The firm took into account that Starbucks have around 48% more stores than Dunkin Donuts and that the coffee shop has more of a global presence, leading Citibank to release a buy rating on the chain. Furthermore, despite the decline in coffee prices, Starbucks fix its coffee prices 18 months in advance and therefore is unlikely to affect the company earnings.
The share price of the stock closed at $94.3 at the close of yesterday’s U.S. session.
Related Posts: