UPDATE: Citigroup Raises PT on Buffalo Wild Wings Following 2Q EPS Beat

In a report published Wednesday, Citigroup analyst Alvin C. Concepcion reiterated a Neutral rating on Buffalo Wild Wings BWLD, and raised the price target from $98.00 to $104.00.

In the report, Citigroup noted, “2Q EPS was 88c vs. FC est. of 79c on sales of $305mm vs. FC est. of $304mm. Co-owned SSS were 3.8% vs. FC est of 4.6% and April SSS of +5.2% (incl 150bps Easter shift benefit). Franchised SSS were 4.1% vs. FC est. of 4.8% and April SSS of 5.8% (incl 150bps Easter shift benefit). Easter shift benefitted 2Q SSS by XXbps vs. hurting 1Q SSS by 50-75bps, and pricing helped by 4.7%. CRM were 18.1% vs. FC of 18% and op. margin was 7.9% vs. FC of 7.1%.”

Buffalo Wild Wings closed on Tuesday at $97.69.