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UPDATE: Miller Tabek Downgrades Buffalo Wild Wings Following 23% Rally from Earnings

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In a report published Monday, Miller Tabak + Co. senior analyst Stephen Anderson downgraded Buffalo Wild Wings (NASDAQ: BWLD) from Buy to Hold and raised the fair value estimate from $148.00 to $155.00.

Anderson noted that Buffalo Wild Wings had a strong start to 2014 despite harsh weather in the company's core Midwest markets. In addition, the analyst “highlighted BWLD's value leadership within the mid-scale bar-and-grill sub-segment of casual dining, which in our view is helping the company maintain top-line momentum.”

Miller Tabak expects EPS growth above guidance for 2014 with mid-single-digit comps, lowered commodity costs, reduced operating costs as a percentage of sales, and solid unit growth. The analyst reported that he prefers to “secure recent gains in BWLD shares” given the 23% rally following Buffalo Wild Wings fourth quarter 2013 earnings release.

Shares of Buffalo Wild Wings Inc. closed at $151.91 on Friday and is currently trading at $148.64, down 2.15 percent.

Latest Ratings for BWLD

Nov 2017Maxim GroupDowngradesBuyHold
Nov 2017UBSDowngradesBuyNeutral
Nov 2017Deutsche BankDowngradesBuyHold

View More Analyst Ratings for BWLD
View the Latest Analyst Ratings

Posted-In: Miller Tabek Co. Stephen AndersonAnalyst Color Downgrades Price Target Analyst Ratings


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