Michael Farr spoke on CNBC’s “Fast Money Halftime Report” about Stifel’s upgrade of Starbucks Corporation (NASDAQ:SBUX). He owns the stock and he thinks this was a good call. The stock is recovering and it is not cheap at 27 times earnings, but with a growth of 15%, it’s on its way up.
See Also: Stifel Says Starbucks Will ‘Grind Higher’ To $90 Per Share
Josh Brown has a long position in the name and he added more this week. He expects the stock to trade at $100 in a year from now. He doesn’t see a lot of downside potential if he is wrong. He is also optimistic about pumpkin spice and he thinks it will bring traffic to Starbucks.
Photo via Coffee Geek.
