Wedbush Maintains Outperform on Jamba

Wedbush is out with its report today on Jamba JMBA, maintaining Outperform. In its report, Wedbush writes, "Maintain OUTPERFORM rating and price target of $2.50. Given Jamba's rapidly improving SSS, expected rapid growth in franchise and licensing businesses, and strong brand name, we believe shares of JMBA should trade at an EV/2012E Sales ratio of 0.8x. This represents a 50% discount to the peer group average, given the numerous initiatives underway to return the company to profitability. Thus, using an EV/ 2012E Sales ratio of 0.8x, we generate our 12-month price target of $2.50." At the time of posting, shares of JMBA were trading pre-market at $1.97, up 11.30% from Tuesday's close.