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Thursday, March 28, 2024

UPDATE: Wunderlich Securities Reiterates On BJ's Restaurants On Position For Further Gains

Courtesy of Benzinga.

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In a report published Wednesday, Wunderlich Securities analyst Robert M. Derrington reiterated a Buy rating on BJ’s Restaurants (NASDAQ: BJRI), and raised the price target from $42.00 to $56.00.

In the report, Wunderlich Securities noted, “We reiterate our Buy rating on BJs Restaurants (BJRI) and are lifting our price target to $56 from $42. We believe management has laid the foundation for improved performance in future periods and appears on-track to meet its 3-year goal for 19% rest. margins by 2016. We believe management and its Board’s plan to leave no-stone-unturned to improve its customer experience, operating trends and shareholder value has BJs well-positioned for further success to come. Despite that, BJRI was recently trading at only 11.7x our revised 2015 EV/EBITDA and 9.9x 2016 vs. its high-growth peer mean of 15.5x and 12.7x respectively. Supported by our estimate for 25-30% EPS growth and factoring an 11.7x multiple to our 2016 estimates, we are lifting our PT to $56 from $42 and reit. our Buy rating.”

BJ’s Restaurants closed on Tuesday at $48.19.

Latest Ratings for BJRI

Date Firm Action From To
Dec 2014 Wunderlich Maintains Buy
Jul 2014 Barclays Maintains Underweight
Jul 2014 Jefferies Maintains Hold

View More Analyst Ratings for BJRI
View the Latest Analyst Ratings

Posted-In: Robert M. Derrington Wunderlich SecuritiesAnalyst Color Price Target Analyst Ratings

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