Piper Jaffray Maintains Overweight, $9 Target on Ruth's Hospitality

Piper Jaffray reiterates its Overweight rating and $9 target price on Ruth's Hospitality Group (NASDAQ: RUTH) as it assesses risks the company faces.

Piper Jaffray notes, “Risks include beef commodity exposure and the ability to control the brand through its franchising effort, as well as its ability to recruit/retain talented operators. Our $9 price target is based on ~9x our 2012 EV/EBITDA estimate.”

RUTH closed at $5.15 per share on Monday.