Market Overview

UPDATE: Bank of America Merrill Lynch Reiterates Buy Rating, Lowers PT on Red Robin Gourmet Burgers

Share:
Related RRGB
20 Biggest Mid-Day Gainers For Wednesday
Red Robin Flying Higher

In a report published Friday, Bank of America Merrill Lynch reiterated its Buy rating on Red Robin Gourmet Burgers (NASDAQ: RRGB), but lowered its price objective from $43.00 to $38.00.

BofA Merrill Lynch noted, “Red Robin has the potential to gain share with more effective marketing and also has an opportunity to grow, with less than 500 units in operation. New CEO Steven Carley has begun to implement his Project RED (revenues/expenses/deployment of capital) plan and early results have been impressive. Earnings have the potential to move sharply higher in coming years and we expect RRGB shares to respond well to such a progression.”

Red Robin Gourmet Burgers closed on Thursday at $32.24.

Latest Ratings for RRGB

DateFirmActionFromTo
Aug 2017Raymond JamesMaintainsStrong Buy
Aug 2017BTIG ResearchUpgradesNeutralBuy
May 2017Canaccord GenuityUpgradesHoldBuy

View More Analyst Ratings for RRGB
View the Latest Analyst Ratings

Posted-In: Bank of America Merrill LynchAnalyst Color Price Target Analyst Ratings

 

Related Articles (RRGB)

View Comments and Join the Discussion!