Wedbush Remains Bullish as Kona Grill (KONA) Reports In-Line Results

Wedbush maintained an Outperform rating on Kona Grill (NASDAQ: KONA), and cut the price target to $21.00 (from $25.00), following the company's 4Q earnings release. KONA's results came roughly in-line with the company's preannouncement. EPS of ($0.18) was in-line with consensus estimates of ($0.17), on 3.2% SSS growth. Management initiated 2016 annual guidance of 2% SSS growth and 25% adj. EBITDA growth, or approximately $15M in 2016 EBITDA.

Analyst Nick Setyan commented, "We believe Kona Grill is well-positioned to garner a premium to growth peers based on growing investor awareness of its best-in-class growth metrics and outperformance relative to 2016 expectations."

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 $15.12 yesterday.

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