Starbucks is a top pick for 2023 at William Blair
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William Blair named Starbucks Corporation (NASDAQ:SBUX) one of its top picks for 2023.
The research firm said it believes Starbucks (SBUX) is well positioned to deliver both revenue and EPS upside over the next year given ongoing topline momentum, even with consumers under pressure in many parts of the world. The analyst team pointed to recent healthy double-digit comparable sale growth for SBUX in all major regions of the world except China, with trends even accelerating in the United States and staying solid in Europe.
As for China, Starbucks (SBUX) is one of the U.S. multinationals expected by analysts in general to benefit if COVID restrictions are eased and political tension is dialed back.
Starbucks debate: Shares of Starbucks (SBUX) have recovered over the last six months are now down only 11% year-to-date. Still, opinion is highly divided on the setup for 2023. Seeking Alpha author Cavenagh Research is bullish on the stock for SBUX in 2023, while Weighing Machine said the coffee chain giant is a hard pass.