Market Overview

UPDATE: Miller Tabak Upgrades Red Robin Gourmet Burgers to Buy on Comps, Outlook

Related RRGB
5 Stocks To Counter the Slump In Retail Sales
Bobby Flay Plans IPO For Bobby's Burger Palace

Miller Tabak raised its rating on Red Robin Gourmet Burgers (NASDAQ: RRGB) from Hold to Buy and increased its price target from $31 to $36.

Miller Tabak said, "We upgrade our rating to Buy on Red Robin Gourmet Burgers (RRGB) following the release of betterthan-expected performance in the September quarter (3Q12) on Monday. RRGB posted gains in both traffic and average ticket, as well as in bar sales as a percentage of total sales. … With two positive quarters for RRGB in an uncertain industry environment, we now are more confident of the company's turnaround efforts, and we argue the acceleration in new unit development will cement further market share gains."

Red Robin Gourmet Burgers closed at $27.85 on Friday.

Latest Ratings for RRGB

May 2017Canaccord GenuityUpgradesHoldBuy
May 2017Bank of AmericaUpgradesNeutralBuy
Mar 2017Standpoint ResearchDowngradesBuyHold

View More Analyst Ratings for RRGB
View the Latest Analyst Ratings

Posted-In: Miller TabakAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings


Related Articles (RRGB)

View Comments and Join the Discussion!