Street View: Starbucks' new CEO pick kindles growth prospects
** Starbucks SBUX.O on Tuesday named Chipotle Mexican Grill CMG.N head Brian Niccol as its new CEO, poaching a successful fast-food executive known for reviving the burrito chain to lead a turnaround
** At least three brokerages have raised their recommendation to "buy" or equivalent since the announcement - LSEG data
IMPROVEMENTS IN CUSTOMER EXPERIENCE AND BRANDING IN FOCUS
** Stifel ("buy," PT: $110) says based on Niccol's consistent track record with growing brands, his leadership should help SBUX rework its strategy and deliver better execution to improve revenue in the U.S. market
** Bernstein ("market-perform," PT: $92) expects co to experience a new era of growth under new leadership with an increase in focus on branding and customer experience among others
** JP Morgan ("overweight") believes Niccol's efforts will be focused on improving the beverage/food/service experience for Starbucks customers and partners; adds near-term earnings may see "more cost reinvestments than cost outs"
** The new CEO's ability to attract and retain talent with a similar vision will help drive notable change at Starbucks in coming quarters - JPM
** Gordon Haskett ("hold," PT: $100) says a fresh perspective on co's business in China with its competitive environment, consumer landscape and capital-intensive development strategy is "long overdue"
Reporting by Kanchana Chakravarty in Bengaluru
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