Starbucks (SBUX) names Brian Niccol as Chairman and Chief Executive Officer

William Blair Reiterates Market Perform Rating on Starbucks (SBUX)

August 14, 2024 7:14 AM EDT

William Blair analyst Sharon Zackfia reiterated a Market Perform rating on Starbucks (NASDAQ: SBUX).

The analyst comments "Stock Thoughts and Risks. Absent the return of Howard Schultz, Niccol is probably as good of a pick as exists for Starbuckss new... More

William Blair Reiterates Outperform Rating on Chipotle Mexican Grill (CMG)

August 14, 2024 7:12 AM EDT

William Blair analyst Sharon Zackfia reiterated an Outperform rating on Chipotle Mexican Grill (NYSE: CMG).

The analyst comments "Chipotle announced the surprise departure of Chairman and CEO Brian Niccol on August 31 to join Starbucks as chairman and CEO. Niccol joined Chipotle in early 2018 and has been key in the company, refining its new product innovation through a strict stage gating process, amplifying its marketing message, building its digital ecosystem, and creating a deeper, more experienced management bench. That... More

Stifel Reiterates Buy Rating on Chipotle Mexican Grill (CMG)

August 14, 2024 5:23 AM EDT

Stifel analyst Chris O\'Cull reiterated a Buy rating and $70.00 price target on Chipotle Mexican Grill (NYSE: CMG)

The analyst comments "Our View: We maintain our Buy following the announcement that CEO Brian Niccol is leaving to become CEO of Starbucks. The strategic... More

Deutsche Bank Upgrades Starbucks (SBUX) to Buy

August 14, 2024 5:04 AM EDT

Deutsche Bank analyst Lauren Silberman upgraded Starbucks (NASDAQ: SBUX) from Hold to Buy with a price target of $118.00 (from $85.00).

The analyst comments "We are upgrading SBUX to Buy (from Hold) following the announcement that Brian Niccol will be appointed as CEO, increasing our conviction in the success of a turnaround and return to a... More

Evercore ISI Upgrades Starbucks (SBUX) to Outperform

August 14, 2024 5:03 AM EDT

Evercore ISI analyst David Palmer upgraded Starbucks (NASDAQ: SBUX) from In Line to Outperform with a price target of $120.00 (from $80.00).

The analyst comments "We are upgrading Starbucks to Outperform due to an increased probability of a US brand turnaround under Brian Niccol. With the hiring of Brian Niccol as... More

BMO Capital on Starbucks (SBUX): 'view the move as supportive of our view that SBUX issues are not structural'

August 13, 2024 10:40 AM EDT

BMO Capital analyst Andrew Strelzik reiterated an Outperform rating and $100.00 price target on Starbucks (NASDAQ: SBUX)

The analyst comments "This morning, SBUX announced CMG CEO Brian Niccol as its new CEO effective September 9. Current SBUX CEO Laxman Narasimhan has stepped down.... More

Chipotle stock price plunges as CEO to leave and join Starbucks

August 13, 2024 10:29 AM EDT

Chipotle Mexican Grill (NYSE: CMG) saw its shares plunge by more than 13% on Monday following the announcement that Brian Niccol, the company's Chairman and CEO, will be leaving to become the new CEO of Starbucks (NASDAQ: SBUX).

The stock drop reflects investor concerns over the potential impact of Niccol's departure on Chipotle's ongoing turnaround efforts. Meanwhile, Starbucks shares surged over 22%.

Niccol, who has been... More

Morgan Stanley's Take on Starbucks' (SBUX) New CEO

August 13, 2024 10:20 AM EDT

Morgan Stanley analyst Brian Harbour reiterated an Overweight rating and $98.00 price target on Starbucks (NASDAQ: SBUX).

The analyst comments "Our take: Sometimes, but not often, we, and even perhaps the most jaded among us, arrive at work to a genuine surprise. Given the challenges SBUX has faced lately and Niccol's track record at CMG, both fundamentally and as reflected in the stock price, we think this will be viewed as an unmitigated positive for SBUX. We have remained OW SBUX, despite challenges, on the view there was impetus for change, the... More

Truist Securities Incrementally Negative on Chipotle Mexican Grill (CMG)

August 13, 2024 9:44 AM EDT

Truist Securities analyst Jake Bartlett reiterated a Buy rating and $69.00 price target on Chipotle Mexican Grill (NYSE: CMG).

The analyst comments "We view the surprise announcement of CMG's CEO (Brian Niccol) as an incremental negative for the stock, but not thesis changing... More

Stifel on Starbucks (SBUX) New CEO: 'Niccol clearly has much to offer the company'

August 13, 2024 9:26 AM EDT

Stifel analyst Chris O\'Cull reiterated a Hold rating and $80.00 price target on Starbucks (NASDAQ: SBUX)

The analyst comments "Our View: Brian Niccol will join Starbucks as chairman and CEO, effective September 9, with Rachel Ruggeri serving as interim CEO until that time.... More

Starbucks names Chipotle's Brian Niccol as CEO; Chipotle stock tumbles

August 13, 2024 8:22 AM EDT

(Updated - August 13, 2024 9:31 AM EDT)

Starbucks (NASDAQ: SBUX) shares surged more than 18% at the open on Tuesday after the company announced that Brian Niccol, the current Chairman and CEO of Chipotle Mexican Grill (NYSE: CMG), will take over as its new Chief Executive Officer.

The news, however, sent Chipotle's stock down by over 9%.

Niccol, who has led Chipotle since 2018, will officially assume his new role at Starbucks on September 9, 2024, leaving Starbucks, effective August 31. During his tenure at Chipotle, Niccol transformed the company by... More

Starbucks (SBUX) Up 11%, Chipotle Mexican Grill (CMG) Falls 9% After Brian Niccol Named Starbucks CEO

August 13, 2024 8:08 AM EDT

Starbucks (NASDAQ: SBUX) Up 11%, Chipotle Mexican Grill (NYSE: CMG) Falls 9% After Brian Niccol Named Starbucks CEO

Starbucks (NASDAQ: SBUX) today announced that Brian Niccol has been appointed chairman and chief executive officer.... More