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UPDATE: BMO Capital Markets Reiterates Outperform Rating, Raises PT on Red Robin Gourmet Burgers on Strong CF

Related RRGB
Red Robin (RRGB) Downgraded to Strong Sell on Dismal Q2
Red Robin (RRGB) Plummets as Higher Costs Dampen Q2 Earnings

In a report published Wednesday, BMO Capital Markets reiterated its Outperform rating on Red Robin Gourmet Burgers (NASDAQ: RRGB), and raised its price target from $43.00 to $50.00.

BMO Capital Markets noted, “Red Robin's 4Q EPS roughly doubled to $0.59 excluding one-time items on better-than-expected comps and margins – growth was 36% excluding $0.21 from an additional operating week. The operating results were better than expected on almost every account. Comps increased +1.5% versus our +0.5% forecast and restaurant margin grew ~140 bp to 15.1% versus our 14.0% estimate.”

Red Robin Gourmet Burgers closed on Tuesday at $43.33.

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings

 

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