UPDATE: Wedbush Upgrades BJ's Restaurants; Raises PT

According to a research report published earlier today, Wedbush has upgraded BJ's Restaurants

from Neutral to Outperform, and has increased PT from $47 to $57. Wedbush explained in the report, “We believe that Q1 SSS expectations may prove conservative based on the strength of our most recent checks. We further believe that BJ's SSS growth is poised to reaccelerate in 2H:12 ahead of current consensus expectations, leading to positive earnings revisions.” BJ's Restaurants closed Friday at $47.24.