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UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Red Robin Gourmet Burgers on Strong 4Q Beat

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In a report published Wednesday, Jefferies reiterated its Hold rating on Red Robin Gourmet Burgers (NASDAQ: RRGB), and raised its price target from $32.00 to $43.00.

Jefferies noted, “Although we suspected momentum was building, we were surprised by the magnitude of the 4Q beat & optimistic outlook, given the challenging external environment. We think it is becoming clear that RRGB is separating itself from the crowd and that there is more leverage in this model than investors expected. We suspect this means more upside ahead, but find it difficult to visualize more than 15% upside to shares in 1 year's time.”

Red Robin Gourmet Burgers closed on Tuesday at $43.33.

Latest Ratings for RRGB

DateFirmActionFromTo
Jul 2015BTIG ResearchInitiates Coverage onNeutral
Mar 2015Longbow ResearchUpgradesNeutralBuy
Feb 2015JefferiesMaintainsBuy

View More Analyst Ratings for RRGB
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