UPDATE: Canaccord Genuity Raises PT on Jamba Following In-Line EPS
In a report published Wednesday, Canaccord Genuity analyst Scott Van Winkle reiterated a Buy rating on Jamba (NASDAQ: JMBA), and slightly raised the price target from $3.50 to $4.00.
In the report, Van Winkle noted, “We maintain our BUY rating and continue to believe that Jamba has successfully developed the operating model for an efficient and profitable growth company. JMBA reported EPS of $(0.02), in line with the Street and slightly ahead of our $(0.03) estimate. Company-owned comps of 3.6% were remarkably strong given weather-driven growth of 12.7% in the prior-year period. Comp trends strengthened throughout the quarter and we suspect the acceleration continues into Q2.”
Jamba closed on Tuesday at $2.66.
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