Del Taco Restaurants (TACO): Raising PT - Jefferies
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Jefferies analyst, Andy Barish, reiterated his Buy rating on shares of Del Taco Restaurants (NASDAQ: TACO) but raised his price target to $16 from $14 after EPS beat on better than expected SSS and lower food costs. System SSS accelerated to 6.7% (vs cons 3.7%) following the successful re-launch/refresh of TACO’s “Combined Solutions” program & rollout of the new "Del Taco" taco.
The analyst thinks the brand is well positioned to compete in this kind of environment, suggests buying the stock on improving fundamentals and an attractive valuation at 9x '17 EBITDA.
Shares of Del Taco Restaurants closed at $12.63 yesterday.
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