September 26, 2024

Bernstein analysts have upgraded Starbucks to ‘Outperform,’ $115 price target based on new
CEO Brian Niccol. According to the analyst, appointment of Brian Niccol has boosted the
confidence of the investors and stock price of SBUX has experienced an increase of 27% since
his appointment.
The banking giant expects Starbucks to concentrate on operational efficiency gains cost cuts and
recover to pre-covid operating margin of 18.5%. The analyst also predicted higher margins by
the end of 2028 even with spending on labor and technology.