Jefferies Downgrades Red Robin Gourmet Burgers (RRGB) to Hold

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Jefferies downgraded Red Robin Gourmet Burgers (NASDAQ: RRGB) from Buy to Hold with a price target of $32.00 (from $26.00) in assumed coverage.

The firm comments, "We think ests & valuation fairly reflect improving new store economics & visibility of EPS upside in '12 as cost efficiencies materialize & offset a choppier sales environment. However, SSS remain the key driver behind LT EPS growth & valuations, and although we see a number of potential catalysts for '13, we currently have limited visibility of SSS momentum."

For an analyst ratings summary and ratings history on Red Robin Gourmet Burgers click here. For more ratings news on Red Robin Gourmet Burgers click here.

Shares of Red Robin Gourmet Burgers closed at $31.03 yesterday, with a 52 week range of $21.68-$39.32.

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