UPDATE: Morgan Stanley Lowers PT on BJ's Restaurants from $59 to $55

Morgan Stanley maintained an Overweight rating on BJ's Restaurants BJRI and lowered its price target from $59 to $55. Morgan Stanley commented, “The headline for BJRI this Q was a solid 4.4% 2Q comp, which should calm fears that sales are sliding towards mediocrity. However, creeping costs (esp marketing) offset this, yielding an in-line Q. On the margin, we think this is pos for shares as sales trends were the biggest question mark.” BJ's Restaurants closed at $39.84 on Thursday.