Shares of Buffalo Wild Wings (BWLD) Trade up on Miller Tabak Upgrade, Encourages Investors to Buy

Shares of Buffalo Wild Wings (Nasdaq: BWLD) are trading up 4 percent on the day following an upgrade by Miller Tabak. The firm upgraded the stock today to a Buy rating from its previous rating of Hold and raised its price target from $63 to $78.

The firm reports shares of BWLD have fallen roughly 15 percent since their high of $70 during the summer as investors feared a rebound in wing prices would kill margins. Well, Miller Tabak is calling shenanigans and still forecasts 20 percent earnings growth through 2013 and sales growth in the high teens.

An analyst at the firm, Stephen Anderson, believes wing prices are reaching their peak and that margins assisted "by top-line levers BWLD has at its disposal, as well as lower incremental new unit opening costs."

Mr. Anderson comments, "We contend BWLD remains a “growth at a reasonable price” stock that meets all five of our criteria for price appreciation, and thus think the recent decline in the share price provides an opportunity for upside in a high-quality growth name."

Miller Tabak currently estimates earnings of $2.67 per share and $3.22 per share for FY11 and FY12.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
• Zurn Water Solutions (ZWS) Reiterated at Buy by Stifel on New Product Development Momentum
• Ross Stores, Inc. (ROST) PT Raised to $240 at Bernstein SocGen Group