Why This Starbucks Analyst Is Surprised By New CEO Choice — And Optimistic

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Starbucks Corporation (NYSE: SBUX) announced late Thursday the appointment of Reckitt Benckiser Group plc (OTC: RBGLY) top brass Laxman Narasimhan as its next chief executive officer effective April 1, 2023.

He will join the company as the incoming CEO on Oct. 1.

The Starbucks Analyst: Cowen analyst Andrew Charles maintained an Outperform rating and $104 price target for Starbucks shares.

The Starbucks Takeaways: Starbucks’ decision to choose a CEO from outside the consumer discretionary sector was surprising, Charles said in a note.

The analyst is optimistic that Narasimhan’s global perspectives as CEO of a public multinational corporation and his nearly half-decade experience in beverages at PepsiCo. (NYSE: …

Full story available on Benzinga.com

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