Editors' pick: Originally published Jan. 3.

One Wall Street analyst definitely doesn't think there is already a Starbucks (SBUX) - Get Report on every street corner in the world.

"Well beyond 2021, we would not be surprised to see Starbucks exceed the 50,000-store level," wrote Nomura analyst Mark Kalinowski in a note on Tuesday. "Because beverages such as coffee and tea are near universal in their appeal, we believe that Starbucks will achieve its stated goal of having 37,000 units open by the end of 2021, up from 25,085 as of the end of fiscal 2016," Kalinowski added.

Starbucks is Kalinowski's top restaurant pick for 2017 in large part due to the company's growth plans and more attractive valuation following the stock's 7.5% decline last year.

It's hard to argue with the analyst's bold prediction for Starbucks future store count for several reasons. For starters, Starbucks is about to embark on the roll-out of multiple new store concepts.

Starbucks' 20,000 square foot roastery in New York City's Meatpacking District is scheduled to open in 2018. It will be two levels, feature an extended bar that sells and explains high-end coffee, and another 45 foot bar dedicated to spirits and mixology, Starbucks executives have said.

Meanwhile, a 30,000 square foot store that will open in Shanghai in late 2017 is arguably grander than the one in New York. Some of the building's features will include four entries, baked goods by the recently acquired Princi, and a "world" of Teavana products that also happen to offer loose leaf tea scooping. The company will also open a multi-level roastery in Tokyo in 2018, and another one in Europe in 2019 in a city to be announced soon.

There isn't a Starbucks on every corner, suggests one analyst

The company sees as many as 20 to 30 roasteries eventually in operation around the world.

Meanwhile, Starbucks will open stand-alone Princi stores in Seattle, New York and Chicago in late 2017 and in early 2018. In July, Starbucks made an unspecified investment in the Italian artisan bakery. Princi is expected to become the exclusive food offering at all Starbucks Roastery locations.

The partnership means Starbucks will have bakery ovens -- and actual bakers -- on site at select stores for the first time in its 45-year history. Some of the new offerings from Princi at the Roastery locations will be quite extensive. Starbucks will cook up focaccia bread sandwiches for lunch, and even pizza for dinner.

And finally, the company is still bullish on the potential to open new Starbucks stores globally.

It plans to open a whopping 12,000 new stores globally by 2021. The new stores, coupled with continued product innovation and a digital ordering push, has Starbucks seeing revenue growth of 10% and earnings increasing 15% to 20% each year over the next five years. Same-store sales are expected to increase by a mid-single digit percentage.

Starbucks is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells SBUX? Learn more now.