UPDATE: Deutsche Bank Downgrades Buffalo Wild Wings to Hold

Deutsche Bank lowers its rating on Buffalo Wild Wings BWLD to Hold from Buy on a dimmed outperformance outlook. Price taret goes up $15, however, to $100, on better valuation compared to the restaurant industry. Deutsche Bank says, "BWLD has transitioned from one “overhang” to another over the past 2 years, starting with a surprising deceleration in SSS in 1H10, followed by NFL concerns, then wing cost concerns. However, these overhangs have offered investors several attractive entry points on the stock, at much lower valuations than what we see today. With expectations now more elevated, relative outperformance is less likely from here. Raise PT to $100 but lower to Hold." BWLD closed at $94.92 a share yesterday.