Barclays maintains an 'Equalweight' on P.F. Chang’s (PFCB); Turnaround in Very Early Stages, Too Soon to Tell...And 1H12 Outlook Challenged
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Price: $51.47 --0%
Rating Summary:
2 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
2 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Barclays maintains an 'Equalweight' on P.F. Chang’s (NASDAQ: PFCB) price target�from $37 to�$35.00.
Barclays analyst says, "In 2Q, PFCB identified brand-specific issues, and detailed initiatives to address them. In 3Q, we heard encouraging takeaways from market tests, which will continue. If successful, a rollout is likely in 1H12, leaving 2H12 as critical to (re)assess the health and viability of both brands. The question remains whether efforts will resolve the issues without damaging consumer perception and financial performance. This uncertainty will likely limit near-term outperformance (we lower our estimates, PT accordingly) regardless of valuation, especially on dismissal of buyout speculation."
For more ratings news on P.F. Chang’s click here and for the rating history of P.F. Chang’s click here.
Shares of P.F. Chang’s closed at $31.00 yesterday.
Barclays analyst says, "In 2Q, PFCB identified brand-specific issues, and detailed initiatives to address them. In 3Q, we heard encouraging takeaways from market tests, which will continue. If successful, a rollout is likely in 1H12, leaving 2H12 as critical to (re)assess the health and viability of both brands. The question remains whether efforts will resolve the issues without damaging consumer perception and financial performance. This uncertainty will likely limit near-term outperformance (we lower our estimates, PT accordingly) regardless of valuation, especially on dismissal of buyout speculation."
For more ratings news on P.F. Chang’s click here and for the rating history of P.F. Chang’s click here.
Shares of P.F. Chang’s closed at $31.00 yesterday.
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