According to Morgan Keegan, BJ's Restaurants BJRI saw impressive Q1 on strong revenue.
Morgan Keegan said that it is raising the price target to $42, assuming 33x our 2012 EPS, 12.5x 2012 EBITDA. “While we believe a considerable premium to its peers is warranted given its significant unit growth and consistent SSS/traffic outperformance, we believe multiple expansion appears limited.”
BJ's Restaurants closed yesterday at $43.45.
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Posted In: Analyst ColorAnalyst Ratingsbj's restaurantsConsumer DiscretionaryMorgan KeeganRestaurants
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