UPDATE - Barclays Initiates Coverage on BJ's Restaurants (BJRI) with an Overweight; Growth, Growth and More Growth

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UPDATE - Barclays initiates coverage on BJ's Restaurants (Nasdaq: BJRI) with an Overweight rating. PT $57.

Analyst, Jeffrey A. Bernstein, said, "The 'polished' casual diner is in the very early stages of justifiable unit growth, differentiated in an otherwise crowded bar & grill segment. And while the 'growth' valuation is often a concern for investors, we believe the early stage of such growth justifies the return to a premium vs. high-growth peers, with the runway for BJRI unit growth well beyond peers."

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