UPDATE: Wedbush Raises PT to $16 on Krispy Kreme Doughnuts Post Pullback on Guidance Disappointment

Wedbush maintained Krispy Kreme Doughnuts

with an Outperform rating and raised the price target from $14.00 to $16.00. Wedbush analyst Nick Setyan noted, "We continue to believe acceleration in domestic company and franchise unit development, driven by improved cash-on-cash returns, combined with already industry-leading international growth, could result in sustained double-digit EPS growth ahead of expectations and an expanded valuation. […] Believe guidance could prove conservative given industry-leading SSS growth outperformance. 7.5% Q4 SSS growth was second only to Pollo Tropical in Q4, but adjusted for CY-end vs. FY-end Jan., KKD was the highest." Krispy Kreme Doughnuts closed at $14.95 on Thursday.