Wedbush Assumes Jamba (JMBA) at Neutral
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Wedbush assumes coverage on Jamba (NASDAQ: JMBA) with a Neutral rating and a price target of $10.00.
Analyst Colin Radke commented, "With transition to asset-lite model complete, JMBA’s future will be driven by performance of remaining co-owned store portfolio and franchise growth and profitability. While we are encouraged by management’s initiatives, we see challenges to both and expect a turnaround to take time. Therefore, we initiate with NEUTRAL rating and $10 PT."
Shares of Jamba closed at $10.19 yesterday.
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