“I Wanna Buy It,” Says Jim Cramer About Starbucks (SBUX)

We recently published Jim Cramer Discussed These 11 Stocks & The Market’s 3rd Bull Run Anniversary. Starbucks Corporation (NASDAQ:SBUX) is one of the stocks Jim Cramer recently discussed.

Starbucks Corporation (NASDAQ:SBUX)’s turnaround, led by CEO Brian Niccol, has consistently placed the firm on Jim Cramer’s radar. Recently, he’s started to wonder whether Niccol might have a tough road ahead of him. Yet, Cramer’s a believer in the Starbucks Corporation (NASDAQ:SBUX) and explained why as part of his Morning Take to members of his investing club:

“Now it’s very interesting, because that stocks been down with a lot of consumer stocks. . .I wanna buy it. Why do I wanna buy it? Because, well coffee, I know that it costs a little more to get a cup of coffee. He’s introducing things, I’ll tell you what he’s like. He’s like Ramon Laguarta. Ramon Laguarta saved his job by introducing a huge number of snacks and drinks. And I think that if you believe that Ramon Laguarta can get that stock from 139 to 149, I suppose, you better start believing this man can get the stock to 100. I think he’s got a plan, I think his plan’s going to work out. Don’t forget, he can sell China. . . are multiple buyers for China. He put together a couple of good weeks and he urged me, please don’t get ahead of this because he’d given a memo out, he wanted me to know, please, don’t extrapolate, don’t extrapolate.”

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Disclosure: None. This article is originally published at Insider Monkey.