Starbucks' turnaround plan has ‘merit' but its unknown cost makes the stock a ‘sell,' analyst says
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Starbucks' new 'Back to Starbucks' turnaround plan, introduced by CEO Brian Niccol, has been deemed to have merit by Redburn Atlantic's analyst Edward Lewis. However, due to the unknown costs associated with the plan, Lewis has downgraded Starbucks' stock to a 'sell'.
November 13, 2024 | 1:15 pm
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Starbucks' stock has been downgraded to 'sell' by Redburn Atlantic's analyst due to the unknown costs of its new 'Back to Starbucks' plan.
The downgrade by a reputable analyst can negatively impact investor sentiment and lead to a short-term decline in stock price. The uncertainty around the costs of the new plan adds to the risk, prompting a 'sell' recommendation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100