Chipotle stock price plunges as CEO to leave and join Starbucks

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 Mexican Grill (CMG) call put ratio 1 to 1 after CEO leaves for Starbucks (SBUX)

August 13, 2024 10:05 AM EDT

Chipotle Mexican Grill (NYSE: CMG) 30-day option implied volatility is at 44; compared to its 52-week range of 15 to 54 after CEO leaves for Starbucks (SBUX). Call put ratio 1 call to 1 put on 133K contracts.

... 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

Chipotle Mexican Grill (CMG) call put ratio 1.4 calls to 1 put into CEO leaves for Starbucks (SBUX)

August 13, 2024 8:56 AM EDT

Chipotle Mexican Grill (NYSE: CMG) 30-day option implied volatility is at 33; compared to its 52-week range of 15 to 54 into CEO leaves for Starbucks (SBUX). Call put ratio 1.4 calls to 1 put.

... 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

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