Morgan Joseph Starts Crumbs Holdings (CRMB) at Buy; Delicious Product, Robust Growth, Financially Thriving

Morgan Joseph initiates coverage on Crumbs Holdings (OTCBB: CRMB) with a Buy. PT $16.

Morgan analyst says, "With strong per store profitability and an aggressive store roll-out plan, we expect Crumbs' sales, EPS, and EBITDA to expand at a 50% CAGR over the next 4 years. Our $16 PT is derived through a DCF analysis to fully capture growth potential. The FCF should steadily accelerate from a slight loss in 2011 to nearly $27mm over the next 5 years."

For more ratings news on Crumbs Holdings click here and for the rating history of Crumbs Holdings click here.

Shares of Crumbs Holdings closed at $13.00 yesterday.

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