Piper Jaffray Maintains Overweight, $25 Target on Bravo Brio

Piper Jaffray reiterates its Overweight rating and $25 target price on Bravo Brio Restaurant Group BBRG despite risks. Piper Jaffray says, “Risks include expectations surrounding the first domestic restaurant IPO since 2006, general macro economic factors, impacts to consumer spending, commodity costs, and changes in growth potential. Our $25 price target is based on 27x our FY12 EPS estimate of $0.92.” BBRG closed at $15.18 per share on Friday.