UPDATE: Dougherty Upgrades Jamba; Raises PT

According to a research report published earlier today, Dougherty & Company has upgraded Jamba Inc.

from Neutral to Buy, and increased PT from $2 to $2.50. Dougherty commented in the report, “JMBA reiterated FY12 guidance that includes the following: (1) Positive comparable store sales of 3% to 4%; (2) Store-level EBITDA margins of 19% to 22%; (3) Develop 50 to 65 locations; (4) Hold SG&A in dollars (excluding performance-based compensation) consistent with 2011 levels; and deliver licensing revenue of $3.0 million. JMBA expects the vast majority of new store development in 2012 to occur with franchisees.” Jamba is currently trading at $2.01.