Parkev Tatevosian, CFAPublished 2026-09-01
“Starbucks Stock Investors Have Reason to Cheer | SBUX Stock Analysis”
$SBUXNo side taken
SBUX fundamentals improving under new CEO but valuation too high (forward P/E 34.6 vs fair value $68); rating is hold/waiting for lower price.
CEO Brian Niccol is working his magic again. After being poached away from Chipotle, Brian Niccol is achieving significant success at Starbucks, accelerating comparable store sales growth to 7.9% in the most recently completed quarter.
At Starbucks, he's already facilitating significant improvement. The stock price is up meaningfully, sales are increasing, 90-day active rewards members are increasing to 36 million, and I like the strategy of slowing down new store development until you get the operations corrected, right?