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

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

Chipotle Mexican Grill (CMG) PT Lowered to $59 at Evercore ISI

August 14, 2024 6:05 AM EDT

Evercore ISI analyst David Palmer lowered the price target on Chipotle Mexican Grill (NYSE: CMG) to $59.00 (from $65.00) while maintaining a Outperform rating.

The analyst comments "We are trimming our target multiple for Chipotle due to the CEO transition. Although we have the... 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 Defends Chipotle Mexican Grill (CMG): 'outsized pullback as a buying opportunity'

August 14, 2024 5:21 AM EDT

Deutsche Bank analyst Lauren Silberman reiterated a Buy rating and $67.00 price target on Chipotle Mexican Grill (NYSE: CMG)

The analyst comments "On 8/13, CMG announced that Chairman and CEO Brian Niccol would be stepping down, effective 8/31, as he has accepted the role as Chairman and CEO of... 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

Baird Upgrades Starbucks (SBUX) to Outperform

August 13, 2024 8:54 AM EDT

Baird analyst David Tarantino upgraded Starbucks (NASDAQ: SBUX) from Neutral to Outperform with a price target of $110.00 (from $81.00).

For an analyst ratings summary and ratings history on Starbucks click here. For more ratings news on Starbucks click here.

Shares of Starbucks closed at $77.03 yesterday.

... 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

Chipotle (CMG) CEO to Depart for Starbuck (SBUX)

August 13, 2024 8:05 AM EDT

Chipotle Mexican Grill, Inc. (NYSE: CMG) today announced that Brian Niccol, Chairman and Chief Executive Officer, has accepted the role as Chairman and Chief Executive Officer of Starbucks and will be leaving the Company effective August 31, 2024. Niccol has served as Chipotle's CEO since 2018 and as Chairman of the Board since 2020.

Chipotle's Board of Directors has appointed Scott Boatwright, Chief Operating Officer, as Interim CEO. Boatwright joined... More

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

August 13, 2024 8:05 AM EDT

Starbucks (NASDAQ: SBUX) today announced that Brian Niccol has been appointed chairman and chief executive officer. Niccol will start in his new role on September 9, 2024. Starbucks chief financial officer, Rachel Ruggeri, will serve as interim ceo until that time. Mellody Hobson, Starbucks board chair, will become lead independent director.

Niccol currently serves as Chairman and CEO of Chipotle. Since becoming CEO in 2018, Niccol has transformed Chipotle. His focus on people and culture, brand, menu innovation, operational excellence, and digital transformation have set new standards in the industry and driven significant growth and... More

Starbucks (SBUX) call put ratio 3.4 calls to 1 put as share price up 3.9%

August 12, 2024 11:07 AM EDT

Starbucks (NASDAQ: SBUX) 30-day option implied volatility is at 26; compared to its 52-week range of 15 to 43. Call put ratio 3.4 calls to 1 put as share price up 3.9% after Bloomberg says near pact with Elliott.

... More

Starbucks (SBUX) Is Said To Near Pact To Give Elliott Board Seat - Bloomberg

August 12, 2024 10:59 AM EDT

Starbucks (NASDAQ: SBUX) Is Said To Near Pact To Give Elliott Board Seat - Bloomberg

Starbucks Said To Mull Reviewing Capital Allocation, Operations... More

Elliott seeks to install Cohn on Starbucks board, sources say

August 12, 2024 9:25 AM EDT

(Reuters) -Activist investor Elliott Investment Management is seeking to add Jesse Cohn, an equity and managing partner in the firm, to the Starbucks board, sources said.

The coffee house chain and the hedge fund have held talks over the last weeks, but the current status of settlement discussions could not be learned.

Elliott, which owns a sizable stake in the company and has been pushing it to improve its performance and stock price, has proposed expanding the size of the... More

Starbucks (SBUX) and Elliott Talking Settlement - CNBC

August 12, 2024 9:20 AM EDT

Starbucks (SBUX) and Elliott Talking Settlement - CNBC

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BofA Makes Adjustments to US 1 List, Micron (MU) Removed

August 9, 2024 6:02 AM EDT

Additions to Bofa US 1 List:

Chipotle Mexican Grill (NYSE: CMG)NVR, Inc. (NYSE: NVR)RenaissanceRe (NYSE: RNR)Northrop Grumman (NYSE: NOC)RTX (NYSE: RTX)Uber (NYSE: UBER)

Removals from Bofa US 1 List:

The AZEK Company Inc. (NYSE: AZEK)Dell Technologies (NYSE: DELL)Micron Technology (NASDAQ: MU)Sealed Air (NYSE: SEE)... More