Stifel Raises Price Target on Zoe's Kitchen, Inc. (ZOES) to $25

Stifel reiterated a Hold rating on Zoe's Kitchen, Inc. (NYSE: ZOES), and raised the price target to $25.00 (from $22.00), after hosting management meetings.

Analyst Paul Westra commented, "We maintain our Hold rating on ZOES after we hosted several meetings this week where management’s tone was generally upbeat with respect to its unchanged forward-looking commentary. While we remain cautious on the restaurant industry as a whole, we have ongoing confidence that ZOES’ management is taking the right steps to manage through the ongoing choppy macro sales environment. We thus confidently maintain our largely in-line-with-consensus 4Q16 comp/EPS estimates of +1.0%E/-$0.06E (vs. consensus’ +1.4%E/-$0.06E) and our 2017 EPS of $0.16E (vs. cons' $0.13E). Our RIPE-based Target Price is $25/sh."

For an analyst ratings summary and ratings history on Zoe's Kitchen click here. For more ratings news on Zoe's Kitchen click here.

Shares of Zoe's Kitchen closed at $26.65 yesterday.

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