Starbucks Corporation (SBUX) "Goes Much Higher," Says Jim Cramer

We recently published 10 Latest Stocks Jim Cramer Discussed In An Episode Examining Turnarounds. Starbucks Corporation (NASDAQ:SBUX) is one of the stocks Jim Cramer recently discussed.

Starbucks Corporation (NASDAQ:SBUX) is another firm busy with a turnaround. Under the leadership of CEO Brian Niccol, the firm is seeking to improve its customer experience by improving its services and seating and providing customers with a unique experience to generate loyalty. While Starbucks Corporation (NASDAQ:SBUX)’s shares have dipped by 10% year-to-date, Cramer continues to have faith in the CEO. His previous comments about the coffee chain have pointed out that “many things” are going well at the firm. According to Cramer, these include “record numbers” and the flexibility to sell its China business. In his latest comments about Starbucks Corporation (NASDAQ:SBUX), he reiterated these factors and asserted that the market had misjudged the firm:

“. . .Starbucks goes much higher.

“This is, you want [inaudible] Starbucks is going down because coffee at the high end is a tiny amount. I think that China deal, the upcoming, let’s say, they have a lot of optionality in China. People are really misjudging it.

[On how he put all his hopes in the CEOs engineering the turnarounds] 100%. As long as the balance sheet’s good. .

“. . .David’s right, I do like the, I like the Starbucks because of Brian Niccol. I think he’s doing a terrific job.”

However, Cramer did recently wonder whether Starbucks Corporation (NASDAQ:SBUX) CEO Brian Niccol might be facing more problems than he had anticipated:

“I do want to ask you a question about the state of Starbucks. Do you think it’s possible when Brian came in he may not have realized how broken Starbucks really was?”

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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