It is no secret that coffee giant Starbucks (SBUX) has been having labor troubles lately, and now, Starbucks is trying to change things at the court level, getting two decisions from the National Labor Relations Board (NLRB) overturned. Hope sprang eternal in the breasts of shareholders, and they gave Starbucks shares a modest boost in Wednesday afternoon’s trading.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Starbucks took its case to a three-judge panel at the Fifth Circuit Court of Appeals, reports noted, and took aim at two judgments against it. First, Starbucks tried to get a case connected to remarks from former CEO Howard Schultz, who declared, “…if you’re not happy at Starbucks, you can go work for another company.” The problem was, he declared this to a single barista who was talking about setting up a union shop. The NLRB, meanwhile, called it a “…veiled threat of discharge.”
The second case, meanwhile, featured Starbucks issuing subpoenas to two employees in La Quinta, California, who were pro-union. After some initial go-round, the union tried to paint the subpoenas as a kind of coercion. The NLRB effectively agreed.
Chocolate at Starbucks? It’s Dubai For.
No, really. While that subheading might sound like a terrible pun—which, really, it is—it also illustrates that Starbucks is getting in on the Dubai chocolate trend. So what is Dubai chocolate? It turns out that it is basically just that: chocolate. However, as the name Dubai implies, it has also received a substantial upgrade, with a “pistachio-tahini cream” included in the bars, along with chopped filo pastry, or kadayif, included.
Starbucks will jump on this trend with the Dubai Chocolate Matcha—which is pretty much exactly what it sounds like, matcha tea with Dubai chocolate included—and the Dubai Chocolate Mocha, which again is largely self-explanatory. Those eager to see how pistachio, tahini, pastry bits and chocolate go with matcha tea or coffee, meanwhile, will have to wait until January to see these drinks hit their Starbucks of choice.
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 15.39% loss in its share price over the past year, the average SBUX price target of $95 per share implies 9.98% upside potential.
