Baird Upgrades This Chicago-Style Restaurant Chain - Read Why - Portillos (NASDAQ:PTLO)

Baird analyst David Tarantino upgraded Portillos Inc PTLO to Outperform from Neutral with an unchanged price target of $50, suggesting a 45.8% upside.
The analyst believed the recent pullback in the shares had created a "more compelling entry point" when considering his bullish view of the company's near- and long-term fundamentals have not changed.
While acknowledging the potential for further short-term volatility in the shares amid a tough market backdrop for high-multiple stocks, Tarantino believed a "substantial premium" for Portillo's can be justified by the company's "visible long-term growth opportunity, and expectations for solid near-term operating momentum."
Price Action: PTLO shares are trading lower by 0.32% at $34.29 on the last check Monday.

Momentum33.05

Growth74.98

Quality-

Value31.67

Short

Medium

Long

Baird Upgrades This Chicago-Style Restaurant Chain - Read Why