Longbow Raises Price Target on Krispy Kreme from $20 to $23, Sees Upside Stemming from Solid Q2 Comps
In a report published Tuesday, analysts at Longbow Research raised the price target on Krispy Kreme (NYSE: KKD) from $20 to $23 following insight from channel checks which indicate possible upside to the firm's Q2 same-store sales estimate.
According to lead analyst Alton Stump, sales growth at company-owned stores is expected to rise by 7.5 percent while comps at franchises are expected to be up 8.2 percent.
Longbow maintains a Buy rating on shares of Krispy Kreme.
The stock is up nearly 4 percent to around $17.67 at last check. Longbow's new price target suggests potential upside of about 30 percent.
Latest Ratings for KKD
|Jun 2016||CL King||Downgrades||Buy||Neutral|
|May 2016||Longbow Research||Downgrades||Buy||Neutral|
|May 2016||Stephens & Co.||Downgrades||Overweight||Equal-weight|
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