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Imperial Capital Positive on Kona Grill (KONA) on New Restaurants

February 25, 2013 12:46 PM EST Send to a Friend
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Price: $22.85 --0%

Rating Summary:
    2 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

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    Up: 0 | Down: 0 | New: 0
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Imperial Capital reiterated their Outperform rating and $10 price target on Kona Grill (NASDAQ: KONA) saying new restaurants will drive future growth.

"We believe KONA should continue to benefit from improvements to its menu, a streamlined supply chain, enhanced marketing efforts, and a favorable remodel program," Lee J. Giordano said. "With only 23 restaurants today and a differentiated restaurant operating model with strong margins, we believe the company has a long runway of organic growth potential throughout the U.S.

The firm cut 2013 EPS estimates by $0.20 to $0.43 based on increased G&A expenses and introduced 2014 EPS estimate of $0.53 (+24%).

For an analyst ratings summary and ratings history on Kona Grill click here. For more ratings news on Kona Grill click here.

Shares of Kona Grill closed at $8.70 yesterday.




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