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Why Stifel Likes BJ's Restaurants, CyrusOne, Grand Canyon Education And Norwegian Cruise Line

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In a report published Thursday, Stifel analysts raised price targets on a few stocks, including BJ's Restaurants, Inc. (NASDAQ: BJRI), CyrusOne Inc (NASDAQ: CONE), Grand Canyon Educatio, Inc (NASDAQ: LOPE) and Norwegian Cruise Line Holdings (NASDAQ: NCLH).

BJ's Restaurants’ price target was boosted from $55 to $60 on the back of “much better” than expected fourth-quarter 2014 results. The firm reiterated a Buy rating, and upped its EPS estimates for fiscal 2014 and fiscal 2015 from $0.95 to $1.04, and from $1.25 to $1.30, respectively.

The analysts “remain pleased with management’s implementation of several key initiatives (see below) and continue to expect more cost-cutting and margin-enhancing leveraging opportunities, especially given improving tailwinds from the Stifel-declared ‘Rising Tide’ dining-out recovery.”

CyrusOne (Buy) also felt Stifel’s bullishness, as its price target was elevated from $32 to $34. The analysts “view 4Q results as further evidence that CONE's flexible and service-driven model continues to gain traction with enterprise customers, creating a virtuous circle of same-store growth and high retention rates. Lease velocity remains robust, with 4Q capping off a record year of leasing volume in terms of square footage, megawatts, and MRR signed. Importantly, we [the analysts] believe management assuaged investor fears regarding headwinds from its large oil & gas exposure, removing a key overhang on valuation. Despite recent outperformance, shares remain at a discount to peers at 11.6x our 2016 EBITDA estimate.”

For its part, Grand Canyon Education (Buy) had its price target lifted from $52 to $53 as it continues to explore the option of converting to a nonprofit, which would involve a buyout deal. The firm’s valuation analysis “suggests a deal in the $50-$60 range.” Moreover, fourth-quarter results were strong again, beating on most metrics, while guidance seemed conservative.

Norwegian Cruise Line (Buy) also witnessed a raise in its price target, from $40 to $55, to reflect the application of a 14.5x multiple on EPS estimates for 2016.

Latest Ratings for BJRI

DateFirmActionFromTo
Jan 2021Stephens & Co.UpgradesEqual-WeightOverweight
Dec 2020Wells FargoUpgradesEqual-WeightOverweight
Nov 2020WedbushMaintainsOutperform

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Related Articles (BJRI + CONE)

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Posted-In: StifelAnalyst Color Long Ideas Price Target Reiteration Analyst Ratings Trading Ideas

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