Jim Cramer Optimistic on Starbucks Post-CEO Change, Cites Former Chipotle CEO's Track Record. Recommends the Stock During Period of Weakness.

Benzinga 2024-10-01

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Jim Cramer expressed optimism about Starbucks' future, citing confidence in new CEO Brian Niccol, former Chipotle chief. Cramer believes Niccol's track record at Chipotle could drive a turnaround for the struggling coffee giant. Jefferies analysts remain cautious, predicting costly turnaround efforts, while Bernstein analysts focus on long-term gains. Cramer said he would endure a weak year for Starbucks if it leads to long-term strength. He expects a stock sell-off if management lowers expectations but recommends buying during periods of weakness.

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