NEW YORK (TheStreet) --Goldman Sachs (GS) has added coffee giant Starbucks (SBUX) - Get Report to its conviction "buy" list on Tuesday, after company CEO Howard Schultz called the unimpressive third quarter results "an anomaly," CNBC's Scott Wapner reported on today's "Fast Money Halftime Report."
The "Halftime Report" panel debated Starbucks and the restaurant sector in general this afternoon.
"I loved the call," TheStreet's Jim Cramer, host of CNBC's "Mad Money," said about Schultz's call to investors.
"Clearly the Frappuccino program and the loyalty program could not be introduced at once, even by the great people at Starbucks. Despite that, I love the China number, I think Starbucks is back, and I thought the Goldman call was excellent," Cramer said.
Also weighing in on Starbucks was co-founder of Najarian Family Office and Najarian Advisors Pete Najarian.
"It's about the China number, they're expanding, they're doing an outstanding job, and they're executing as well," Najarian explained.
Shifting its focus to the somewhat depleted restaurant business as a whole, the panel debated the revolving trends within the sector.
"There's a lot of discounting going on right now in the (restaurant) space, you see that with Wendy's (WEN), Burger King (BGK), McDonalds (MDO). But the trends are clearly changing," senior managing director for Virtus Investment Partners Joe Terranova said.
Additionally, TIAA Global Asset Management managing director Stephanie Link preached investor selectiveness when examining the restaurant industry.
"Commodity costs are coming down; I think you have to be very company specific. A lot of people have been parking money in restaurants because of the experiences, that's why I like YUM! (YUM)," Link explained.
Shares of Starbucks are higher 0.57% to $58.28 Tuesday afternoon.
(Starbucks is a part of Jim Cramer's charitable trust portfolio Action Alerts PLUS. See all of Cramer's holdings with a free trial).