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

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.