In a report published Tuesday, Wunderlich Securities analyst Robert Derrington initiated coverage on BJ's Restaurants BJRI with a Hold rating and $42.00 price target.
In the report, Wunderlich Securities noted, “We are initiating coverage of BJ's Restaurants, Inc. (BJRI) with a Hold rating and a $42.00 price target. We believe BJRI shares could be range-bound in the near term as multiple expansion and material EPS upside appear limited, with its shares fairly valued at recent levels (30.9x forward 12-month EPS vs. 5-year average of 30.3x). While we believe its high-energy, "casual-plus" quality concept appears well positioned for longer-term success, recent soft sales trends leave our EPS projections vulnerable to downward revision, adding risk to BJRI's share price.”
BJ's Restaurants closed on Monday at $37.19.
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