Buffalo Wild Wings (BWLD): Analyst Day Showed Steps In The Right Direction But Not Enough - Jefferies
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Jefferies analyst, Alexander Slagle, reiterated his Hold rating on shares of Buffalo Wild Wings, Inc. (NASDAQ: BWLD) after the company's analyst day offered some modest but tangible steps toward evolving the capital structure and increasing focus on returning cash to shareholders.
The analyst stated "while we applaud these first steps, we suspect some investors may have expected more, hence the stock's negative reaction. We think the stock remains range-bound as visibility on accelerating SSS trends remains dim."
The analyst believes BWLD can return to LSD SSS in '17, and drive at least modest relative outperformance vs. peers, but his visibility is lower than previous downturns because the competitive environment is more intense, the supply situation more difficult, and likelihood that BWLD will see more significant cannibalization impact is higher.
No change to the price target of $135.00
Shares of Buffalo Wild Wings, Inc. closed at $161.33 yesterday.
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