Luckin Coffee Gets Lift From Price Target Boost To $42
January 28, 2020
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Chinese coffee retailer Luckin Coffee (LK) – Get Report was rebounding Tuesday after analysts at Morgan Stanley issued a bullish note on the stock and boosted its price target to $42 from $27 a share.
Luckin Coffee Inc. (“Luckin Coffee” or the “Company”) LK, +2.01%, a pioneer of a technology-driven new retail model to provide coffee and other products of high quality, high affordability, and high convenience to customers, today announced the completion of the public offering of 9.00 million American depositary shares (the “ADSs”), each representing eight Class A ordinary shares of the Company…
Luckin Coffee Inc. LK was a big mover last session, as the company saw its shares rise nearly 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company —as the stock is now up 48.9% in the past one-month time frame.
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