Starbucks up after report Starboard Value takes stake
Updates
** Shares of coffee chain Starbucks SBUX.O rise as much as 3.3% to $77.57 in early trading
** Activist investor Starboard Value has a stake in SBUX, the Wall Street Journal reported on Friday, although its stake is not known
** However, sources told Reuters Starboard has not made any demands as it has not contacted SBUX
** Separately, SBUX and activist investor Elliott Investment Management are talking about settlement, CNBC reports citing sources
** Elliott has built a sizable position in SBUX and has been discussing ways of improving its stock performance, Reuters reported in July
** Average rating of 37 brokerages covering the stock is "hold" and median PT is $84
** Stock down 22% YTD vs 12% rise in the S&P 500 .SPX
Reporting by Medha Singh and Granth Vanaik in Bengaluru
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