UPDATE: Wedbush Downgrades BJ's Restaurants to Neutral on Muted Comps and Margin Outlook
Wedbush reduced its rating on BJ's Restaurants (NASDAQ: BJRI) from Outperform to Neutral and lowered its price target from $40 to $34.
Wedbush commented, "We believe BJRI's exposure to commodity inflation and healthcare legislation, combined with muted transaction trends that could limit management's ability to offset cost increases through menu pricing, could result in limited margin opportunities, particularly at the unit level, in 2013 and 2014."
BJ's Restaurants closed at $35.28 on Tuesday.
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