Starbucks’ SSS Trending Up and 3 Stock Analyses to Watch
VeriSign Inc. (NASDAQ:VRSN) has been added to Wells Fargo’s Priority Stock List due to an attractive risk/reward profile for shares. The firm keeps its Outperform rating and raises its price target range to $44 to $47 from $40 to $42 on the stock.
Starbucks Corp. (NASDAQ:SBUX): According to Citigroup, its channel checks have shown that Starbucks’ new single-serve cappuccino machine, named Verismo, has been received well by consumers. Furthermore, Citi thinks that the company’s Q4-to-date U.S. same-store-sales probably trend up 6 to 8 percent versus up 7 percent in Q3. Citigroup continues to have a positive view of Starbucks shares, as it gives a Buy rating and $63 price target on the stock.
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Immunogen Inc. (NASDAQ:IMGN) announced that Amgen (NASDAQ:AMGN) licensed the exclusive right for use of the company’s maytansinoid TAP technology to a means to develop anticancer therapeutics to a third target, which has not been revealed. Amgen licensed rights for two additional targets in 2009, and it possesses two compounds in clinical testing under those licenses. For each license, ImmunoGen gains a $1 million upfront payment, and it has the right to receive milestone payments which could total up to $34 million plus royalties on the sales of any resulting products. Amgen is responsible for the development, manufacturing, and marketing of any products that result from the license.
General Electric Co. (NYSE:GE) has been removed from UBS’s U.S. Key Call list considering expectations for weaker near-term earnings growth than predicted.