So on the list of things that coffee giant Starbucks (SBUX) did not need, the phrase “political figures come out on the side of the strikers” is probably pretty high up. Sadly, that is just what happened as both New York City Mayor Zohran Mamdani and Vermont Senator Bernie Sanders have stepped in to briefly carry signs on the picket line. The news did not hit shareholders well at all, certainly, and shares slipped fractionally in Tuesday afternoon’s trading.
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The lines out of both sides were familiar, as we have heard something similar from both sides in the past. Mamdani asserted that the strikers were not filing “…demands of greed…” but rather “…demands of decency.” Sanders, for his part, insisted, “Starbucks has refused to sit down and negotiate a fair contract.”
Starbucks, meanwhile, via spokesperson Jaci Anderson, stuck to its guns and insisted that it provides “…the best job in retail.” It also insisted that it would be “…ready to talk when the union is ready to return to negotiation.” Meanwhile, baristas dispute that notion, insisting that they are frequently understaffed, dealing with scheduling shortfalls, and orders that are reportedly so complex that “…the ticket is sometimes longer than the cup.”
New Cups to Fight Over
With the Bearista cup boondoggle seemingly at an end, Starbucks is trying to catch lightning in a bottle once more with new cups available starting today. Roller Rabbit, a lifestyle brand, will be releasing three new monkey-themed cups with Starbucks, including “Monkey Mas,” “Lovely Monkey,” and a Starbucks exclusive, “Coffeehouse Bonanza.”
The new cups will be monkey-heavy, but will also include appropriate art like hearts, mistletoe and more. These items will only be available for a limited time, so be prepared to fight your way through a FOMO cloud of people who do not want to miss this particular rush.
Is Starbucks Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on SBUX stock based on 12 Buys, seven Holds and two Sells assigned in the past three months, as indicated by the graphic below. After a 16.4% loss in its share price over the past year, the average SBUX price target of $95 per share implies 11.71% upside potential.
