UPDATE: Wedbush Initiates Fiesta Restaurant Group at Outperform on Valuation, Growth Momentum

Wedbush initiated coverage on Fiesta Restaurant Group FRGI with an Outperform rating and a $24 price target. Wedbush commented, "We believe FRGI's current discount to growth peers is unwarranted given Pollo Tropical's best-in-class unit economics, SSS growth outperformance and continued momentum, acceleration in unit development and revenue growth, the prospect of monetization of Taco Cabana, and the likelihood of increased investor awareness of these factors going forward." Fiesta Restaurant Group closed at $17.99 on Monday.