NEW YORK (TheStreet) -- Starbucks (SBUX) - Get Report stock closed Thursday's trading session up 0.25% to $55.29 after the coffee giant announced that it would open its very first high-end coffee roastery in Shanghai.
The company currently has one in Seattle, its corporate home. The new one in China, set to open in 2017, will be twice as large. Another will be opened in New York, according to Reuters.
"I think it's very possible that our business in China will grow past the U.S.," CEO Howard Schultz told CNBC. "The reason is, we've been so successful in China over many years, and we're just starting to get the morning day part where we're educating local Chinese to drink coffee in the morning."
In addition to strengthening its commitment in China, the company has said that it launched its mobile app in Japan.
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Separately, TheStreet Ratings currently has a "Buy" rating on the stock with a letter grade of B.
The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity and solid stock price performance. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
You can view the full analysis from the report here: SBUX