Credit Suisse Upgrades Buffalo Wild Wings, Inc. (BWLD) to Neutral; Activism Provides 'Floor'
- Stocks dip as earnings pour in, consumer discretionary lags
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Credit Suisse upgraded Buffalo Wild Wings, Inc. (NASDAQ: BWLD) from Underperform to Neutral with a price target of $165.00 (from $130.00) on potential for restructuring.
Analyst Jason West commented, "The emergence of an activist shareholder could provide a "floor" for the stock and a potential win-win for shareholders, i.e., either fundamentals improve and/or restructuring comes into play. Our key fundamental concerns remain unchanged (value, service) and were evident in BWLD's weak 2Q results. However, traditional metrics like SSS no longer seem to be driving the stock. Our analysis of potential strategies, such as leveraged-buybacks, cost-cutting and refranchising points to significant EPS accretion, should mgmt. pursue these measures."
Shares of Buffalo Wild Wings, Inc. closed at $169.97 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rosenblatt Upgrades NETGEAR (NTGR) to Buy
- Jefferies Raises Price Target on Coca Cola (KO) to $46 Following 3Q; Reaffirmed Guidance
- Drexel Hamilton Raises Price Target on VMware (VMW) Following 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
Related EntitiesCredit Suisse
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!