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Jim Lebenthal Weighs In On Starbucks And Roku

Craig Jones
·1 min read

On CNBC's "Fast Money Halftime Report," Jim Lebenthal said that Starbucks Corporation (NASDAQ: SBUX) is an actionable buy idea because he sees asymmetric risk-return to the upside for the stock.

He explained that the international business is about 23% of the total business and that is more an opportunity than a risk. He sees the main question in what goes on in the United States. The stock trades at 30 times next year's earnings and the multiple doesn't reflect fully re-opened economy, said Lebenthal. That makes him comfortable that the downside risk is limited and that Starbucks can move towards $101 when the economy opens.

Lebenthal believes that a 12% return in Roku Inc (NASDAQ: ROKU) is quite possible going into the year end. He sees it as a trading vehicle and it can move to $227, but if it starts to move lower before it reaches the price target, he is going to close his long position.

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