Jefferies Reiterates Buy on Popeyes Louisiana Kitchen (PLKI) Following 2Q - PT to $63

August 18, 2016 7:10 AM EDT
Get Alerts PLKI Hot Sheet
Price: $52.63 +0.46%

Rating Summary:
    1 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 25 | Down: 28 | New: 31
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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."

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 $55.15 yesterday.

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