Next Wednesday, December 7th, Starbucks Corporation (NASDAQ:SBUX) intends to host its biennial Analyst Meeting that is set to take place in New York City. Ahead of the meeting, Nomura analyst Mark Kalinowski eagerly anticipates the caffeine giant’s growth goals and reiterates a Buy rating on SBUX with a price target of $70, which represents a 22% increase from where the shares last closed.

Kalinowski sings the praises of the giant, asserting, “We look for Starbucks to reiterate its goal of annualized 15%-plus EPS growth over the next few years, with multiple growth factors serving as drivers. Those growth drivers should help propel enviable unit growth (we forecast +8.4% worldwide unit expansion for fiscal 2017, on top of the +8.9% that was achieved during fiscal 2016) and annual mid-single-digit worldwide same-store-sales gains (Starbucks has attained +5% full fiscal year worldwide same-store-sales growth in each of its last seven fiscal years, and in 26 of the last 28 fiscal years).”

Therefore, the analyst predicts, “With year-on-year comparisons easing as fiscal 2017 progresses, we believe SBUX stock will generally regain favor with investors over the next 6-12 months.”

“We continue to view Starbucks as—eventually, although this seems unlikely to happen by year-end 2017—positioned to take the number-one market capitalization slot away from McDonald’s,” Kalinowski contends.

As usual, we like to include the analyst’s track record when reporting on new analyst notes to give a perspective on the effect it has on stock performance. According to TipRanks, five-star analyst Mark Kalinowski is ranked #289 out of 4,239 analysts. Kalinowski has a 75% success rate and gains 10.2% in his yearly returns. When recommending SBUX, Kalinowski earns 13.9% in average profits on the stock.

TipRanks analytics indicate SBUX as a Buy. Based on 19 analysts polled by TipRanks in the last 3 months, 13 rate a Buy on SBUX, while 6 maintain a Hold. The 12-month average price target stands at $63.38, marking an 11% upside from where the stock is currently trading.