Starbucks: stock up on broker comments

(CercleFinance.com) - Jefferies reiterates its Buy rating on Starbucks shares, setting a new target price of 100 dollars.


The new CEO, Laxman Narasimhan, appears to be a good fit and should have a positive impact on the company and the stock over the long term, said the analyst, who believes the company is in a transition period until 1 April 2023. However, analysts still think the company is laying the foundation for an attractive long-term growth algorithm.

For Jefferies, the analyst day on 13 September is likely to be the next catalyst, when is expects management to provide more detail on the five pillars of the "Reinvention Plan" presented at its last earnings call.

The share closed up almost 2% on these comments yesterday.


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