Adding Starbucks...definite upside potential

Starbucks trading at ~$31.00, I just bought ~£32,000 worth.

 

Market cap of $23bn, on last year net income (Sep '06, and according to my bloomberg) of $564mm, sales of $7.8bn, and the company looks to have solid sales growth and good (although less solid) earnings growth. I think Starbucks is an ambitious and well-run company that still has plenty of growth and expansion in it, and that should keep shares on the up, despite a slightly high P/E for my liking (~40, and a forward P/E according to bloomberg again).

 

And finally the entry point looks ok. Has traded up at $40 in the last year, and it was trading at 30 way back at the end of 2004, so maybe the stock has some room to run.