Jefferies Cuts Price Target on Bojangles' (BOJA) to $21; Reiterates Buy
- Amazon, health stocks weigh on S&P, Nasdaq; Chevron lifts Dow
- ExxonMobil (XOM) Tops Q3 EPS by 5c; CapEx Light of Views
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
- AbbVie (ABBV) Tops Q3 EPS by 1c; Boosts FY16 EPS Outlook
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Jefferies maintained a Buy rating on Bojangles' (NASDAQ: BOJA), and cut the price target to $21.00 (from $22.00), following the company's 2Q earnings report. Rest level margins were better than expected in 2Q and provided upside on lower food costs.
Analyst Andy Barish commented, "Strong rest level margins led to another EPS upside surprise at BOJA, with yo-y gains of 17% at $0.27, above our/cons of $0.22. BOJA kept systemwide sss positive (barely at 0.2%) but clearly discounting/promo environment is not easy. '16 guide trimmed in some areas as 2H expected to be tough and labor investment being put in place to continue to differentiate brand. We like 8% unit growth and reasonable valuation and reiterate our Buy,, esp. on weakness."
Shares of Bojangles' closed at $18.33 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Oppenheimer Raises Price Target on Cirrus Logic, Inc. (CRUS); Reiterates Outperform
- UPDATE: Oppenheimer Upgrades Level 3 Communications (LVLT) to Outperform
- Alphabet (GOOGL) (GOOG) PT Lifted to $1000 at Oppenheimer
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
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!