UPDATE: Morgan Stanley Upgrades Buffalo Wild Wings to Overweight, Names $117 PT on Much Higher Estimates

In a report published Wednesday, Morgan Stanley analyst John Glass upgraded the rating on Buffalo Wild Wings BWLD from Equal-Weight to Overweight, and named a $117.00 price target. In the report, Morgan Stanley noted, “Upgrading to Overweight as Street is under estimating margin improvements beginning in 2H. The combination of falling wing prices, change in pricing structure and new distribution agreement could save over 200 bps in food costs, in our view. Our estimates are now substantially above consensus. BWLD has and continues to be one of the strongest SSS performers in the group and less directly impacted from competitive discounting in casual dining.” Buffalo Wild Wings closed on Tuesday at $96.97.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorUpgradesAnalyst RatingsJohn GlassMorgan Stanley
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!