Jefferies Downgrades Popeyes Louisiana Kitchen (PLKI) to Hold on Valuation

November 11, 2016 6:39 AM EST
Get Alerts PLKI Hot Sheet
Price: $62.43 +0.16%

Rating Summary:
    1 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies downgraded Popeyes Louisiana Kitchen (NASDAQ: PLKI) from Buy to Hold but maintains a price target of $63, citing valuation.

Analyst Alexander Slagle commented, "Following the rally in the stock since the election and solid 3Q, the stock has approached our PT of $63, and we find it difficult to push valuation beyond 15.5x '17 EBITDA, and downgrade to Hold. We continue to believe that PLKI represents one of the top unit growth stories in QSR, and that management is implementing initiatives that will allow the brand to make further share gains for years to come, but would rather buy on a pullback. PT remains $63."

For an analyst ratings summary and ratings history on Popeyes Louisiana Kitchen click here. For more ratings news on Popeyes Louisiana Kitchen click here.

Shares of Popeyes Louisiana Kitchen closed at $60.57 yesterday.

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