UPDATE: DA Davidson Raises Target to $105 on Buffalo Wild Wings

DA Davidson reiterates its Buy rating on Buffalo Wild Wings

an raises its price target by $15 to $105 a share on sales momentum that offsets expected wing cost increases. DA Davidson notes, "Company-owned comps increased 8.9% with franchise locations up 5.9%. The focus on sales-driving initiatives is clearly paying off with market share gains. Incremental advertising, product improvements, in-store execution, and store remodels are all contributing. Momentum has continued in the first six weeks of Q1 with company comps up 12.9%. We are modeling 9% comps for Q1, but this could prove conservative given that revenue upside is driving a greater marketing budget." BWLD closed at $70.19 a share on Tuesday.