Posted 9/19/2023, 3:08:11 PM
Cramer Disagrees with Starbucks Downgrade, Sees China Concerns as Buying Opportunity
- CNBC's Jim Cramer disagreed with TD Cowen's downgrade of Starbucks stock due to China growth concerns.
- Cramer believes the China issues are already priced into Starbucks' stock, which is down 20% from its 2022 high.
- Cramer sees the downgrade as a contrarian opportunity to buy Starbucks stock on the dip.
- Cramer's Charitable Trust has owned Starbucks since August 2022.
- Starbucks stock is down 4% year-to-date, lagging the S&P 500.