UPDATE 4-Starbucks raises outlook as turnaround signs mount

* Raises fiscal 2010 earnings estimates

* Eyes growth in new markets such as China

* Analysts, investors want international expansion

* Shares climb nearly 4 percent (Adds analyst comments, executive comments on global expansion, details of product expansion)

By Lisa Baertlein

LOS ANGELES, Nov 5 (Reuters) - Starbucks Corp (SBUX.O: Quote, Profile, Research) raised its financial forecasts for 2010 in the latest sign a year-long turnaround effort is boosting margins and putting it back on track for growth, sending shares up almost 4 percent.

The company, which posted an expectations-topping fourth-quarter profit on Thursday, increased its target for fiscal 2010 growth in earnings before items to 15 percent to 20 percent from 13 percent to 18 percent previously.

After shuttering more than 900 cafes -- mostly in the United States -- and slashing overhead costs, the Seattle-based chain is throwing off significant cash. That has growth-hungry investors and analysts pushing for expansion in China and Europe.

Accelerating international growth plans "would reinforce that this is still a growth company," said Jesup & Lamont analyst Greg Schroeder, who added that the United States accounts for less than 20 percent of global coffee consumption.