Does the New Growth Outlook Make Starbucks Stock a Buy Right Now?
Coffeehouse giant Starbucks (NASDAQ: SBUX) announced on Sept. 1 that it hired Laxman Narasimhan to become its new CEO. He will take the helm next year from founder and three-time CEO of the chain, Howard Schultz, whose current stint has seen Starbucks facing issues relating to labor relations, rising costs, and a slow rebound in China, its second-largest market.
But to ease investor worries, the company just released fresh long-term growth targets, dubbed the Reinvention Plan, to outline a path to drive improved financial performance for the business. And shareholders have a lot to consider before getting excited.
With a new outlook, is it time to buy this top restaurant stock? Let's take a closer look.
Source Fool.com
