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Oppenheimer Holdings Reiterates Perform Rating on Einstein Noah Restaurant Group

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In a report published Friday, Oppenheimer Holdings reiterated its Perform rating on Einstein Noah Restaurant Group (NASDAQ: BAGL).

Oppenheimer Holdings noted, “BAGL announced the completion of its strategic alternatives process, which includes a leveraged recap and one-time special dividend of $4/sh. This is less than the $9/sh communicated in the October presentation, but also comes with lower leverage and less than expected debt ($140M vs. proposed $265M). The announcement ends a seven-month process and attention is likely to revert back to fundamentals. We maintain our Perform rating as we await signs of better traffic trends and improving market share.”

Einstein Noah Restaurant Group closed on Thursday at $15.79.

Latest Ratings for BAGL

DateFirmActionFromTo
Sep 2014JefferiesDowngradesBuyHold
Feb 2014Piper JaffrayDowngradesOverweightNeutral
Mar 2013JefferiesMaintainsBuy

View More Analyst Ratings for BAGL
View the Latest Analyst Ratings

Posted-In: Oppenheimer HoldingsAnalyst Color Reiteration Analyst Ratings

 

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