NEW YORK (TheStreet) -- Shares of coffee giant Starbucks (SBUX) - Get Report hit a new all-time high of $97.69 earlier this morning following the company's investor day meeting yesterday. Goldman Sachs and Wells Fargo both issued upbeat notes on the stock today, saying that the coffee retailer's shares can continue to climb.

WHAT'S NEW: The growth of Starbucks' mobile offerings and lunch revenue, along with falling coffee prices, give it the opportunity to beat 2015 and 2016 consensus estimates, Goldman Sachs analyst Karen Holthouse wrote in a note to investors today. The analyst is increasingly confident that Starbucks can meet its guidance for a 5% increase in its comparative sales in both 2015 and 2016, driven by increases in prices, higher food sales, new coffee beverages, and its mobile system. Even after the recent run in the stock, its valuation "remains compelling," according to Holthouse, who raised her price target on the shares to $107 from $98 and kept a Buy rating on the name. After analyzing several recent presentations by Starbucks, Wells Fargo believes that the company has the right strategy to drive sustainable, ongoing growth. The company's many growth initiatives, including the expansion of its mobile payment systems, its tea and food offerings, its delivery initiative, and its packaged good business, should enable its growth to accelerate further, according to the firm. Following its sum-of-the-parts analysis, the firm thinks that investors are underappreciating Starbucks' value and failing to give the company credit for its tea and mobile business in particular. Given continued global volatility, investors will look for stable, consistent growth companies like Starbucks, Wells contended. It raised its price target range on Starbucks shares to $109-$111 from $94-$96 and kept an Outperform rating on the stock.

WHAT'S NOTABLE: Yesterday, in conjunction with its meeting, Starbucks reaffirmed its goal to grow its market cap to $100B, unveiled plans for two pilots of delivery services, announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992 and said it has entered into an agreement for Tingyi to manufacture and expand the distribution of Starbucks ready-to-drink products throughout mainland China.

PRICE ACTION: In early trading, Starbucks climbed 1.7% to $97.44.

Reporting by Larry Ramer.

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