Janney Montgomery Scott Initiates Coverage on Burger King Holdings (BKC) with a Buy; Top Pick in Restaurant Space
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Janney Montgomery Scott initiates coverage on Burger King Holdings (NYSE: BKC) with a Buy. Price target $22.
Janney analyst says, "We initiate coverage of Burger King, owner of the Burger King concept, which enjoys the #2 position in terms of market share within the U.S. limited-service hamburger sector with a BUY rating. (In fact, at this time, Burger King Holdings is our top pick within our restaurant-stock coverage list.) We look for potential upside to calendar 2010 U.S. same-store sales to materialize as the company increases its national ad presence by 20%-25% (amplified by some new products, such as the Steakhouse XT burger that we anticipate will launch nationally this upcoming February). Our fiscal 2010 and EPS projections are $1.42 and $1.60, respectively...In the past, well-known national quick-service restaurant brands have enjoyed same-store sales numbers better than the Street had anticipated, owing to meaningfully increased national advertising."
To see more analyst ratings on BKC Click Here.
Burger King Holdings, Inc., through its subsidiaries, owns and franchises 'Burger King' fast food hamburger restaurants.
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