Starbucks Stock to $120? Cramer Says Turnaround Is Accelerating

Starbucks stock is climbing back toward triple digits, and Jim Cramer says it won't stop there. The coffee chain beat Wall Street on nearly every line this week.

In a week of major earnings calls, Starbucks has not only performed, but also shown delivery on a promise of a turnaround in the coffee chain's fortunes, promised by CEO Brian Niccol.

Starbucks Beats Across the Board

Starbucks earned an adjusted $0.85 per share in its fiscal third quarter. That's up 70% year over year and well ahead of estimates. Revenue held at $9.3 billion. Global comparable-store sales grew 7.9%, the fourth straight quarter of gains.

Operating margin expanded 430 basis points to 14.4%. North America's margin grew for the first time since early fiscal 2024. That held even after stripping out the tariff refunds that boosted the headline numbers.

Shares jumped more than 3% Thursday to roughly $107. That puts Starbucks up about 26% year to date. The stock now sits near the 52-week closing high of $108.37, set on July 16. It has not closed above $110 since January 2025.

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