Why Are Starbucks Shares Trading Higher?

Starbucks Corp SBUX shares are trading higher Wednesday after JPMorgan analyst John Ivankoe upgraded the stock from a Neutral rating to an Overweight rating and announced a $101 price target.

Starbucks also announced that CEO Kevin Johnson will transition from his lead role on April 4, but he will continue to work with Starbucks as a partner and special consultant to the company and board through September. 

Starbucks founder Howard Schultz will return to the company he helped build as interim CEO, while the board searches for a long-term replacement.

Related Link: Starbucks CEO Kevin Johnson Announces Retirement; Founder Howard Schultz To Return In Interim Role

SBUX 52-Week Range: $78.92 - $126.32

Starbucks shares are up 7.05% at $88.99 at time of publication.

Photo: Engin_Akyurt from Pixabay.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: NewsUpgradesPrice TargetManagementAnalyst RatingsMoversTrading IdeasHoward ShultzKevin Johnsonwhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!