Wedbush Cuts Price Target on Bj's Restaurants, Inc. (BJRI) to $34; Reiterates Neutral

Wedbush maintained a Neutral rating on Bj's Restaurants, Inc. (NASDAQ: BJRI), and cut the price target to $34.00 (from $40.00), following the company's 3Q earnings report. EPS of $0.30 was below $0.33 consensus on -3.4% SSS growth vs. -1.9% consensus. A favorable tax rate boosted reported EPS by $0.04.

Analyst Nick Setyan commented, "Given our expectation for muted SSS growth trends and a declining marginal benefit from ongoing cost initiatives, we believe risk to stubbornly high consensus estimates remains."

For an analyst ratings summary and ratings history on BJ's Restaurants click here. For more ratings news on BJ's Restaurants click here.

Shares of BJ's Restaurants closed at $35.69 yesterday.

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