UPDATE: Wunderlich Securities Reiterates on Buffalo Wild Wings Following Solid Q314 Results

In a report published Wednesday, Wunderlich Securities analyst Robert M. Derrington reiterated a Buy rating on

, and raised the price target from $133.00 to $162.00. In the report, Wunderlich Securities noted, “Yesterday, Buffalo (BWLD) delivered Q314 results, which 'beat' on all its key operating metrics: revenue, SSS and avg. unit sales, operating margin, and EPS, which climbed 67% to $0.95 vs. our $0.86, Street $0.85. Based on those results and its improving cost outlook, mngt. raised 2013 EPS guidance to 28% growth (from 25%) on adj. basis and set its 2014 EPS target at 20% more. Supported by its well-differentiated ‘Wing. Beer. Sports.' positioning, strong sports programming, dbl-digit unit growth, and improving COGS outlook, we believe BWLD remains well-positioned to outperform most peers in both good times and bad. Given its well-insulated business model and factoring 30x P/E to our raised 2015 EPS, we are raising our PT to $162 from $133 and reit. our Buy rating for aggressive investors.” Buffalo Wild Wings closed on Tuesday at $129.51.