People wear protective face masks outside Starbucks in Union Square as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on September 29, 2020 in New York City.Noam Galai | Getty ImagesStarbucks said Wednesday that it expects to hit its long-term growth targets in 2023 and 2024, with adjusted earnings per share growth of 10% to 12%.Shares of Starbucks rose 3% in extended trading on the news. The stock, which has a market value of $122 billion, has risen 18% so far this year.CFO Pat Grismer told investors Wednesday at its biennial investor day that it’s slightly raising its forecast for ongoing long-term revenue growth to a range of 8% to 10%. At its last investor meeting in 2018, the company said it expected adjusted earnings per share to rise at least 10% annually and consolidated revenue growth of 7% to 9% over the long term. Grismer also reiterated the company’s forecast for fiscal 2021, which began in October. As the company and overall economy recover from the coronavirus pandemic, Starbucks is expecting adjusted earnings per share of $2.70 to $2.90. By fiscal 2022, as it laps weaker earnings growth, Starbucks is forecasting growth of more than 20%.Long-term, Starbucks is projecting net new unit growth of 6% worldwide as it strives to reach 55,000 cafes globally by 2030. It’s expecting about 3% new unit growth in the United States, down slightly from its prior range of 3% to 4%. In China, its second-largest market, it’s forecasting new location growth in the low teens, down from its prior outlook in the mid-teens. Adding more locations will help the global coffee giant reach new customers as it predicts that the global addressable market for coffee will reach $450 billion by 2023. Currently, it has a store footprint of nearly 33,000.The projections assume that Starbucks will not experience any additional business interruptions and stable foreign exchange rates.At the investor meeting, executives also shared more details on the company’s strategy for long-term growth, including using artificial intelligence in its drive-thru lanes and doubling down on new cold drinks.