Buffalo Wild Wings' Comps Are Off To An 'Excellent Start,' Barclays Says

Buffalo Wild Wings Inc BWLD reported its fourth-quarter financial results on Thursday, missing expectations, but providing strong guidance for the quarter to come.

In a report published Friday, Barclays analyst Jeffrey A. Bernstein commented on the earnings, and reiterated an Overweight rating on the stock and raised its price target from $210 to $214.

According to the report, the firm remains bullish on Buffalo Wild Wings following the earnings call. “Comp growth is outsized, unit growth is strong, acquisitions are accretive, new concepts will support LT growth, wing prices are easing, labor leverage is expected, and excess cash will ultimately be returned to shareholders. Ultimately, we [the analysts] believe '15 earnings guidance for 18% growth will prove conservative,” Bernstein said.

Related Link: Wedbush Lukewarm On Buffalo Wild Wings Following Earnings

On the back of the current comp momentum, Barclays raised its estimates for the company. It now expects EPS of $5.95 for fiscal 2015, and EPS of $7.05 for fiscal 2016.