Stock picks for a changing China

A Starbucks store in Shenzhen, China.
Brent Lewin | Bloomberg | Getty Images

Companies that hit the sweet spot in China's changing growth landscape are the place to be now, not some of the former favorites, analysts say. (Tweet This)

Starbucks and Carnival, for instance, are getting China right because they have the right strategy for targeting the growing middle class, and are among the companies analysts say are riding high in China now.

The recent commodity rout and second-quarter earnings season have shown investors how much U.S. stocks are negatively impacted by slower growth in China, but the blame may lie more with corporate strategy than significant slowdown in the world's second-largest economy.