BGB Securities Maintains Buy, $500 Target on Biglari Holdings

BGB Securities reiterates its Buy rating and $500 target price on Biglari Holdings BH as the company remains attractive, having had another solid quarter. BGB Securities notes, "Same-store sales at Stean n Shake increased 5.5% YoY in 1Q12, with customer traffic growing 5.7% considering the tough comps of the last two years and the ongoing general economic weakness in the US that continues to challenge the restaurant industry." BH closed at $385.92 a share on Friday.