Starbucks shares rise after the bell as its rev beats estimates
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Starbucks shares rose 3.7% to $96.40 after reporting quarterly revenue that exceeded analysts' expectations. Despite a decline in third-quarter global comparable sales, the company noted a 2% increase in China comparable store sales. The stock ended the regular session down 0.8% at $92.96, with a median 12-month price target of $95. Year-to-date, Starbucks is up about 2%, compared to a 9% gain in the Nasdaq.
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