Oppenheimer Remains Bullish on Kona Grill (KONA) Following 2Q Results

Oppenheimer reiterated an Outperform rating and $25.00 price target on Kona Grill (NASDAQ: KONA) following 2Q15 results. Adjusted EBITDA of $3.9M beat Street's $3.7M estimate. 2Q SSS was 1%, in line with consensus.

Analyst Brian Bittner commented, "Despite transitory headwinds, 2Q was respectably solid. Looking forward: comp trends have accelerated into 3Q (above guidance) and '16 is positioned to over-grow as operating leverage improves. KONA remains a compelling investment opportunity and we believe its valuation (12x EBITDA) under-appreciates its 20% annual unit growth, proven portability, new unit outperformance and model's upcoming earnings improvements. Reiterate Outperform and $25 price target."

For an analyst ratings summary and ratings history on Kona Grill click here. For more ratings news on Kona Grill click here.

Shares of Kona Grill closed at $20.31 yesterday.

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