Goldman upgrades Starbucks

The coffee shop chain was upgraded from neutral to conviction buy with a price target of 66, up from 49. Goldman says Starbucks (SBUX) could double EPS to $3.50-$3.60 by 2015 vs. analysts' views for $3.22, due to expansion in emerging markets, its single-serve coffee maker and falling coffee bean prices. Goldman sliced McDonald's (MCD) from conviction buy to buy on lack of new short-term growth opportunities and cut its target to 110 from 114.