Jefferies Reiterates Buy on Popeyes Louisiana Kitchen (PLKI) Following 2Q - PT to $63
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Jefferies Maintained a Buy rating on Popeyes Louisiana Kitchen (NASDAQ: PLKI), and cut the price target to $63.00 (from $65.00), following the company's 2Q earnings report. EPS of $0.47 was inline with consensus estimates.
Analyst Alexander Slagle commented, "EPS inline, as domestic SSS was light (flat vs 1% cons) & intl SSS beat (6.4% vs 4.7% cons); however, stock down as hopes for a reacceleration in SSS that appeared to be in the works as of Apr/May ended up short-lived with slower QSR spending trends into Jun/Jul. Although industry trends worse than expected, we think PLKI will emerge as one of the few winners in the category as investments in people, tech & ops pays off, and EPS growth materializes."
Shares of Popeyes Louisiana Kitchen closed at $55.15 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
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