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UPDATE: Jefferies Reduces PT to $20 on Einstein Noah Restaurant Group on Trade Liquidity

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Jefferies reiterated its Buy rating on Einstein Noah Restaurant Group (NASDAQ: BAGL) but lowered its price target from $21 to $20.

Jefferies noted, "Stock likely trades sideways as no news on strategic alts (but team focused on executing something by YE) & investors still wait for further sales acceleration. SSS appear to be back on track (albeit still modest) & fundamentals in solid shape w/ 3Q EPS +27% (our 12/13 EPS +22/23%). Stock at a discount because trading liquidity tight & SSS modest, but we think 5.5x EV/EBITDA valuation does not reflect potential EPS upside."

Einstein Noah Restaurant Group closed at $`4.96 on Monday.

Latest Ratings for BAGL

Sep 2014JefferiesDowngradesBuyHold
Feb 2014PiperJaffrayDowngradesOverweightNeutral
Mar 2013JefferiesMaintainsBuy

View More Analyst Ratings for BAGL
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Posted-In: JefferiesAnalyst Color Price Target Intraday Update Analyst Ratings


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