RBC Capital Remains Sidelined on Noodles & Company (NDLS) After Adjusting Estimates
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RBC Capital maintained a Sector Perform rating on Noodles & Company (NASDAQ: NDLS), and cut the price target to $5.00 (from $8.00), after adjusting estimates. RBC cut 2016 and 2017 EPS estimates from ($0.11) and ($0.05) to ($0.15) and ($0.19), respectively, based on the outlook for negative systemwide SSS growth through 1H17.
Analyst David Palmer commented, "We are lowering our price target and estimates based on our outlook for soft sales and depressed earnings through at least 2017. Earnings visibility remains low as the company rationalizes its restaurant base and strives to bolster service and food."
Shares of Noodles & Co. closed at $4.15 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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