RBC Capital Remains Sidelined on Bojangles' (BOJA) Following 2Q
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RBC Capital maintained a Sector Perform rating on Bojangles' (NASDAQ: BOJA), and cut the price target to $19.00 (from $20.00), following the company's 2Q earnings report. Bojangles’ 2Q company SSS growth of 0.9% was roughly in-line with our 1% estimate and included 0.5pp of traffic growth, 1.7pp of pricing and a 1.3pp decline in mix.
Analyst David Palmer commented, "We are trimming our estimates and price target based on lower anticipated SSS growth and increased labor costs. Despite these near-term constraints, we are optimistic that operational initiatives and growing platform innovation can help bolster sales trends 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 PT Change
Related EntitiesRBC Capital, Earnings
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