BGB Securities: Biglari Holdings Stock Remains Attractive

According to a research report published today, BGB Securities said that Biglari Holdings Inc.,

had another strong quarter led by the performance of Steak n Shake. “BH reported 1Q12 results after the market closed on Friday, January 27, 2012. Same-store sales at Steak n Shake (the operating business of predominant importance at BH) increased 5.5% YoY in 1Q12, with customer traffic growing 5.7%. This is a particularly impressive performance considering the tough comps of the last two years (up 2.1% in 1Q11 and up 14.4% in 1Q10) and the ongoing general economic weakness in the U.S. that continues to challenge the restaurant industry,” BGB Securities commented in the report. BGB Securities maintains its Buy rating and $500 PT on Biglari Holdings, which closed Friday at $385.92.