UPDATE: Jefferies Initiates Chuy's Holdings at Hold with $19 on Fair Valuation

Jefferies initiated its coverage on Chuy's Holdings

with a Hold rating and a price target of $19 a share. Jefferies noted, "Chuy's is well-positioned, with a strong, differentiated brand in Mexican casual dining, to be a restaurant industry growth leader for many years to come. We believe the company can grow EPS 25%+ near-term, but find the valuation fair at current levels of around 27x and thus rate the stock Hold. Jefferies acted as a Joint Bookrunner in the company's recent IPO at $13." Chuy's Holdings closed at $17.53 on Friday.