In a report published Thursday, Wedbush Securities analyst Nick Setyan reiterated a Neutral rating on BJ's Restaurants, Inc. BJRI, and raised the price target from $48.00 to $54.00.
In the report, Wedbush Securities noted, "Although we are encouraged by improving SSS trends and cost efficiencies, we remain sidelined pending a sustained improving sales trajectory and further visibility into near- and medium-term margin opportunity. Q4 EPS ahead of consensus on preannounced revenue. EPS of $0.31 was above $0.21 consensus and our $0.23 estimate, on preannounced revenue of $213.9 million and SSS growth of 1.2%. The 1.4% growth in average check was partly offset by a (0.2%) slowdown in traffic. Greater-than-expected labor and operating cost leverage, as well as the repurchase of 0.8 million shares drove the beat."
BJ's Restaurants closed on Wednesday at $46.88.
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