But Morningstar’s Dunlop mentioned in his Aug. 13 note that Niccol will need more than Schultz’s support and Wall Street’s initial excitement for something to new to reach “peak Starbucks,” as Schultz had hand-picked Narasimhan and set up a multiyear plan for him to succeed.

Starbucks CEO Brian Niccol said the coffee chain is committed to bargaining in good faith with the union that represents many of its baristas, as the two sides work to craft a labor deal.