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By Chip Brian, SmarTrend Analytics Team
Starbucks (NASDAQ:SBUX) reiterated Overweight, price target raised to $25, at Piper Jaffray. The stock closed yesterday at $19.70 on volume of 13,828,800 shares, above average daily volume of 12,243,210.
Starbucks is currently above its 200-day moving average of $14.86 and should find resistance at its 50-day moving average of $19.88.
SmarTrend is bullish on shares of SBUX and our subscribers received an Uptrend alert on July 20, 2009 at $14.70, which has returned 34.1% to date.
Contact Chip Brian
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