UPDATE: Oppenheimer Raises PT to $62 on BJ's Restaurants
A report from Oppenheimer reiterates its Outperform rating and raises its price target from $54 to $62 on BJ's Restaurants (NASDAQ: BJRI).
The report states, “We believe BJRI possesses the industry's most attractive growth story and we provide a detailed sensitivity model in our full report, released today, that yields a 20%+ EPS CAGR through 2020 (available for investors' own use upon request). Management's growth strategy is promoted by surging 4-wall fundamentals as "best-in-class" comp trends represent remarkable market share momentum. Comp strength could remain surprisingly strong in 2012 against tough comparisons as BJRI utilizes its pricing power and rolls out a loyalty program."
BJRI closed yesterday at $52.02.
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