Wedbush Raises Price Target on Buffalo Wild Wings (BWLD), Calls Discount Unwarranted

Wedbush is reaffirming its Outperform rating on shares of Buffalo Wild Wings, Inc. (NASDAQ: BWLD), while lifting its price target from $82 to $90.

The company reported strong quarterly results as both earnings and sales topped expectations. An analyst from the firm comments, "We believe BWLD’s current discount to its growth peer group is unwarranted given its best-in-class unit growth rate, steadily improving cash-on-cash returns, defensible unit economics, and near-term SSS momentum."

Wedbush anticipates continued growth going ahead as management noted the strong trends were flowing into Q1. The firm raised its Q1 and FY12 EPS estimates from $0.72 and $3.26 to $0.80 and $3.31. For FY13, the firm forecasts EPS of $4.18.

For an analyst ratings summary and ratings history on Buffalo Wild Wings, Inc. click here. For more ratings news on Buffalo Wild Wings, Inc. click here.

Shares of Buffalo Wild Wings, Inc. closed at $70.19 yesterday.

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