Wedbush Starts Krispy Kreme (KKD) at Outperform; Best Month Ever

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Wedbush initiates coverage on Krispy Kreme (NYSE: KKD) with an Outperform. PT $9.00.

Analyst, Nick Setyan, said, "We believe acceleration in domestic company and franchise unit development, driven by improved cash-on-cash returns combined with already industry-leading international growth, could result in sustained high-teens to low-20% EPS growth and an expanded valuation."

"Believe attractive and increasing ROIs to drive sustained acceleration in company unit development...Near term, we believe marketing around 75th Anniversary could have resulted in "best month in years", as some stores put it."

For an analyst ratings summary and ratings history on Krispy Kreme click here. For more ratings news on Krispy Kreme click here.

Shares of Krispy Kreme closed at $6.55 yesterday, with a 52 week range of $5.78-$9.47.

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