At 34 times 2005 earnings, I can't see much upswing in the near term. In fact some correction wouldn't be a big surprise to anyone. I don't think the big fund people will push up valuation more than it is. Long term though, it looks very positive to me.
17% store growth guidance compounded for the next 3-5 years means that they have become comfortable with opening more than 150 stores a year. Since they'll be hitting 1000 stores in the fall, '07 should see 170+ openings.