UPDATE: Feltl & Company Downgrades Buffalo Wild Wings to Sell

Feltl & Company lowers its rating on Buffalo Wild Wings BWLD to Sell from Hold and lowers its price target to $65 from $67 a share based on valuation, increased commodity prices and slowing growth. Feltl & Company notes, "We are reducing our earnings estimates for 2012 based on higher commodity prices. We adjusted our model for the recent acquisition of 15 franchised restaurants in Ohio and South Carolina which had a positive impact on revenue and earnings. However, we think higher commodity prices will more than make up for the positive impact of the acquisition." BWLD closed at 470.30 a share on Friday.
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Posted In: Analyst ColorDowngradesPrice TargetIntraday UpdateAnalyst RatingsFeltl & Company
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