Buffalo Wild Wings (BWLD): Cutting PT On Expected Guide Down - Wells Fargo
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Wells Fargo analyst, Jeff Farmer reiterated his Market Perform rating on shares of Buffalo Wild Wings, Inc. (NASDAQ: BWLD) and cut the valuation range to $147.00 to $156.00 from $160.00 to $165.00.
Barring aggressive cost control efforts and or G&A cuts, the analyst believes BWLD could lower its 2016 EPS guidance in the back drop of accelerating sector SSS declines and a 20% jump in jumbo wing prices since early August. BWLD is scheduled to report Q3 earnings on 10/26 (AMC).
The analyst has modeled:
1) EPS of $1.22 (+22% yr/yr), below the Street at $1.24
2) -2.0% company SSS (same-store sales), below the -1.2% Street estimate.
Shares of Buffalo Wild Wings, Inc. closed at $140.30 yesterday.
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