Market Overview

UPDATE: Citigroup Initiates Buffalo Wild Wings at Neutral on Near-Term Trends

Share:
Related BWLD
Canaccord Genuity Serves Up Cautious Coverage On 15 Restaurant Names
Look For A Better Entry Point To Bite Into Buffalo Wild Wings
Wall Street Breakfast: Global Markets Steady As Fed Meeting Looms (Seeking Alpha)

Citigroup initiated coverage on Buffalo Wild Wings (NASDAQ: BWLD) with a Neutral rating and a $75 price target.

Citigroup noted, "The company has been experiencing soft near-term trends, with a slowdown in Oct SSS relative to 3Q as well as implied negative traffic trends (vs. MSD growth YTD 3Q). Our channel checks indicate November SSS trending at a similar or slightly slower rate than the October trend. Given some investors may expect trends to improve from weakened October trends (although BWLD shares declined after posting 3Q12 results, they are still up about 8% since the beginning of the year vs. down 9% for the peer group; shares also currently trade at 21x forward EPS), these results could be viewed somewhat negatively if the trend continues throughout the quarter and into January."

Buffalo Wild Wings closed at $72.73 on Wednesday.

Latest Ratings for BWLD

DateFirmActionFromTo
Aug 2016Canaccord GenuityInitiates Coverage onHold
Aug 2016Longbow ResearchDowngradesNeutralUnderperform
Aug 2016BMO CapitalMaintainsOutperform

View More Analyst Ratings for BWLD
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

Related Articles (BWLD)

View Comments and Join the Discussion!