December 06, 2012 at 08:58 AM EST
Starbucks Upgraded at Robert Baird (SBUX)

Robert Baird reported on Thursday that they have upgraded american global coffee company, Starbucks Corporation(SBUX) to “Outperform.”

The firm upgraded SBUX from “Neutral” to “Outperform,” and have given the company a price target of $62. This price target suggests a 17% increase from the stock’s current price of $51.62.

Analysts believe that the company will see steady earnings through the next one to two years.

Starbucks shares were mostly flat during premarket trading Thursday. The stock is up 8.7% YTD.

The Bottom Line
Shares of Starbucks (SBUX) have a 1.65% dividend yield, based on last night’s closing stock price of $50.79. The stock has technical support in the $46-$48 price area. If the shares can firm up, we see overhead resistance around the $52-$54 price levels.

Starbucks Corporation(SBUX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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