Piper Jaffray Cuts price Target on Bojangles' (BOJA) to $16 Following 2Q EPS Beat
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Piper Jaffray maintained a Neutral rating on Bojangles' (NASDAQ: BOJA), and cut the price target to $16.00 (from $17.00), following the company's 2Q earnings report. The company reported 2Q16 operating earnings of $0.27 vs. consensus expectations of $0.22 per share. Total revenues increased approximately 9.2% y/y to $131.6M.
Analyst Nicole Regan commented, "Bojangles' reported 2Q16 results including operating earnings and unadjusted EBITDA of $0.27 per share and $21.9M, respectively, vs. our expectations of $0.23 and $20.5M, respectively. The foundation of our Neutral rating stems from a stock perspective as we believe more upside, on a relative basis, exists elsewhere within our coverage universe. We maintain our Neutral rating on BOJA shares, albeit lowering our price target slightly to $16 per share. From a corporate perspective, we have every confidence that the company’s culture of operational excellence positions it to realize its substantial unit growth goals over time."
Shares of Bojangles' closed at $18.33 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesPiper Jaffray, Earnings
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