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Starbucks Keeps Flying Higher

When I first profiled coffee giant Starbucks (NASDAQ:SBUX) I posited that the company's growth trajectory was steep but that despite that, the stock was pricing in even more. I called the stock expensive and at the time, said it had ~$10 worth of downside on valuation. However, later developments caused me to see the light on SBUX and appreciate the torrid global growth that is still possible when I took a look the second time around some months later. Those developments that switched me from bear to bull have only been strengthened as Starbucks reported a terrific quarter a few days ago that sent shares to new highs. In this article I'll highlight the company's new initiatives in light of its new highs and see if there is yet more upside to this incredible…