Why Starbucks Stock Skyrocketed This Week
Shares of Starbucks (NASDAQ: SBUX) were skyrocketing this week after the coffee giant stunned investors by dumping CEO Laxman Narasimhan just 17 months into his tenure and naming Chipotle (NYSE: CMG) CEO Brian Niccol as its next leader.
Niccol is highly regarded for arriving at Chipotle when the business was still crushed by the E. coli crisis and leading a successful turnaround. The stock has been up roughly 800% since then.
Starbucks investors are clearly hoping Niccol can work some of the same magic on the ailing coffee chain. According to data from S&P Global Market Intelligence, Starbucks shares were up 25.4% as of 12:25 p.m. ET for the week.
Source Fool.com
Starbucks Corp. Stock
€79.23
-0.580%
The stock is one of the favorites of our community with 48 Buy predictions and 4 Sell predictions.
As a result the target price of 98 € shows a positive potential of 23.69% compared to the current price of 79.23 € for Starbucks Corp..
