Credit Suisse Upgrades Buffalo Wild Wings, Inc. (BWLD) to Neutral; Activism Provides 'Floor'
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial 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
- JPMorgan Raises Rating on CBOE Holdings (CBOE) to 'Overweight'; Analyst Thinks Bats Technology Will Drive Greater Trading Activity
- Credit Suisse Upgrades MLP Sector to Overweight
- Jefferies Cuts Price Target on Kroger (KR) to $30 Following 3Q and Guidance
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!