KeyBanc Upgrades Ruby Tuesday (RT) to Buy
More News related to RT
- International Franchisees Have a Big Appetite for Ruby Tuesday
- Ruby Tuesday Unveils Fresh Tastes on New Menu
- Ruby Tuesday, Inc. to present at the Wells Fargo Securities 2009 Consumer Growth Conference
- Morgan Keegan Comments on Ruby Tuesday (RT) Following Earnings
- After-Hours Movers 10/07: SCSC, HOTT, TGIC, AA, CPKI Higher; LXRX, SVNT Lower
More News related to Upgrades
- Raymond James Upgrades AMICAS (AMCS) to Strong Buy
- RBC Upgrades Diamond Rock (DRH) to Outperform, Downgrades Hospitality Properties (HPT) to Sector Perform
- First Global Upgrades NetApp (NTAP) to Outperform; Signs of Business Stabilization & Improvement
- Argus Upgrades Hertz Global (HTZ) Two Notches to Buy
- Boenning & Scattergood Upgrades United Bankshares (UBSI) to Outperform
KeyBanc upgrades Ruby Tuesday (NYSE: RT) from Hold to Buy. Price target $7.
KeyBanc analyst says, "Following the announcement of $0.11 upside to our 3Q09 EPS estimate and improved outlook, we are raising our rating on shares of Ruby Tuesday to BUY. We were encouraged by management's ability to expand margins with pro-active cost controls at both the restaurant and corporate levels, sequentially improved SSS throughout the quarter with a refined marketing focus and pay down $40 million of debt (vs. our projection of $25 million) during 3Q09. Looking forward, we expect further margin expansion and SSS improvements to lead to a CY09 FCF yield of ~43% and debt repayments of $90 million-$100 million this year (which alleviates any debt covenant risks, in our view)."
Ruby Tuesday, Inc. (RTI) owns and operates the Ruby Tuesday concept in the higher end of the bar and grill segment of casual dining.
Related Categories
UpgradesStocks Mentioned
-0.15Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
