Jim Lebenthal On The Future Of Starbucks

Jim Lebenthal of Cerity Partners discussed his bullish thoughts on Starbucks Corporation (NASDAQ: SBUX) on CNBC's "Halftime Report" Friday.

Starbucks is a great long-term hold, Lebenthal said, adding that he's not worried about the third-quarter earnings results as long as the trajectory continues to improve.

China has 99% of its Starbucks stores open, and because the Chinese economy is getter better by the day, Lebenthal said he believes this will cause the coffee chain's stock to rise. 

A vaccine will help boost store reopenings in the U.S., which will continue to improve the stock, he said. 

Starbucks shares were down 1.95% at $86.58 at last check Friday. The company has a 52-week high of $94.13 and a 52-week low of $50.02.