Market Overview

UPDATE: Piper Jaffray Initiates Fiesta Restaurant Group at Overweight on Favorable Outlook

Share:
Related FRGI
Benzinga's Volume Movers
UPDATE: Sterne Agee Initiates Coverage on Fiesta Restaurant Group on Open-Ended Growth Story
Restaurant stocks shrug off plight of McDonald's (Seeking Alpha)

In a report published Wednesday, Piper Jaffray analyst Nicole Miller Regan initiated coverage on Fiesta Restaurant Group (NASDAQ: FRGI) with an Overweight rating and $30.00 price target.

In the report, Miller Regan noted, “Our favorable outlook is based on the industry precedent in regards to spinning out and unlocking value in terms of volume growth, unit growth and enhanced profitability, which we believe Fiesta is positioned to do. The industry backdrop is favorable in terms of ‘The Second Course: of The Year of the Restaurant' and potential catalysts include continued positive same-store sales, accelerated development and margin improvement. Our price target equates to ~11x our FY14 EV/EBITDA estimate.”

Fiesta Restaurant Group closed on Tuesday at $27.26.

Latest Ratings for FRGI

DateFirmActionFromTo
Jan 2015JefferiesMaintainsBuy
Dec 2014Sterne AgeeInitiates Coverage onBuy
Nov 2014Longbow ResearchDowngradesBuyNeutral

View More Analyst Ratings for FRGI
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Initiation Analyst Ratings

 

Related Articles (FRGI)

Around the Web, We're Loving...

Get Benzinga's Newsletters