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- Baird analyst David Tarantino upgraded Portillos Inc (NASDAQ:PTLO) to Outperform from Neutral with an unchanged price target of $50, suggesting a 45.8% upside.
- The analyst believed the recent pullback in the shares had created a "more compelling entry point" when considering his bullish view of the company's near- and long-term fundamentals have not changed.
- While acknowledging the potential for further short-term volatility in the shares amid a tough market backdrop for high-multiple stocks, Tarantino believed a "substantial premium" for Portillo's can be justified by the company's "visible long-term growth opportunity, and expectations for solid near-term operating momentum."
- Price Action: PTLO shares are trading lower by 0.32% at $34.29 on the last check Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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