Fogo de Chao (FOGO): Too Cheap To Downgrade - Jefferies
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Jefferies analyst, Andy Barish, reiterated his Buy rating on shares of Fogo de Chao (NASDAQ: FOGO) even though the company missed 2Q estimates on all key metrics with negative SSS and EPS at $0.22, below cons of $0.25. The high-end steak category is also feeling the same competitive pressures seen across the entire industry.. The company guided '16 guided lower and the analyst is following suit taking '16/'17 EPS to $0.85/1.00 (from $0.94/1.10).
However, the stock trades at such a low valuation, he is maintaining his Buy ratting along with the price target of $18, down from $20.
Shares of Fogo de Chao closed at $14.11 yesterday.
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