Loading...
Loading...
Thursday morning rating reports included Morgan Stanley's John Glass downgrading Buffalo Wild Wings
BWLD from Overweight down to Underweight, lowering the price target from $144 to $143.
Morgan Staley notes, "We think BWLD's multiple expansion reflects more near term
excitement about falling costs (specifically wings) and
commensurately improving margins, important, but perhaps more temporary changes to the model that ignores the more enduring changes unfolding as unit growth begins to decelerate. Our work shows that unit growth is by far the more long lasting determinant of valuation."
BWLD closed Wednesday at $151.49 and currently trading down 4.3% to $145.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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!
Already a member?Sign in