UPDATE: Deutsche Bank Initiates Buy, $15 PT on Del Frisco's Restaurant Group on Growth Visibility

Deutsche Bank initiated its coverage on Del Frisco's Restaurant Group DFRG with a Buy rating and a $15 price target. Deutsche Bank said, "DFRG is one of the best unit growth stories in the restaurant industry, with good visibility on 10%+ unit growth for the next several yrs. The company also leads its category (and most restaurants) in terms of SSS trends, sales volumes and margins. Despite this, the stock trades at the low end of the restaurant industry (13.6x P/E, 6.6x EV/EBITDA). In short, macro/beef concerns appear fully priced in." Del Frisco's Restaurant Group closed at $12.65 on Monday.