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UPDATE: Wedbush Downgrades Buffalo Wild Wings On Higher Wing Cost

By Insider Scoop
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Courtesy of Benzinga.

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In a note issued Monday morning, Wedbush analyst Nick Setyan downgraded shares of Buffalo Wild Wings (NASDAQ: BWLD) from Outperform to Neutral and slashed the price target from $175 to $135.

Setyan explained the upside to his 2014 and 2015 expectations may be limited due to higher-than-expected commodity headwinds and a lowered ability to offset costs through increased prices.

To support the idea of limited control over price, Setyan noted the company saw two quarters of negative transactions in 2012 after implementing a 6 percent price increase.

In addition to cutting the price target, Setyan has lowered his EPS estimate for 2014 and 2015 from $5.00 and $6.21 to $4.94 and $5.85, respectively.

Amid the downgrade, shares of Buffalo Wild Wings dropped 6 percent.

Latest Ratings for BWLD

Date Firm Action From To
Sep 2014 Miller Tabak Upgrades Hold Buy
Aug 2014 Morgan Stanley Upgrades Underweight Equal-weight
Jul 2014 Sterne Agee Upgrades Neutral Buy

View More Analyst Ratings for BWLD
View the Latest Analyst Ratings

Posted-In: Nick Setyan WedbushAnalyst Color Downgrades Price Target Analyst Ratings

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