Noodles & Co. (NDLS) Customer Have Flipped a Switch, Piper Sandler Reiterates Overweight After Checks

Piper Sandler analyst Nicole Miller Regan reiterated an Overweight rating and $14.00 price target on Noodles & Co. (NASDAQ: NDLS) after May domestic checks indicate "Consumers have all but flipped a switch", noting sales channels are shifting from drive-thru back to dine-in.

The analyst stated "Most (if not all) concepts are up across the board. However, now 87% of operators in May note an inability to fully staff restaurants (as compared to 82% in April and 77% in March). It is an issue that is growing as sales recover; and the debate over the structural vs. transitory nature continues. Brands that have proactively invested in human capital (including, but well beyond any minimum wage threshold) are best-positioned."

For an analyst ratings summary and ratings history on Noodles & Co. click here. For more ratings news on Noodles & Co. click here.

Shares of Noodles & Co. closed at $12.58 yesterday.

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