Dougherty & Co Upgrades Jamba (JMBA) to Buy; Qtrly Results Showing Progress; Licensing Initiatives Gaining Traction
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Price: $13.01 --0%
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Dougherty & Co upgraded Jamba (NASDAQ: JMBA) from Neutral to Buy, price target raised from $2.00 to $2.50.
Analyst, Gregory J. McKinley, said, "We are warming up to JMBA shares as accomplishment of 2012 goals will mark the first year in which JMBA produces any meaningful level of EBITDA (we estimate $11.8 million) since we have covered them. JMBA shares are valued at 13.8x our revised FY2012E EBITDA estimate (we have included $17.8 million of redeemable preferred stock as debt in our EV calculation) based on our projected year end balance sheet. So, the stock isn’t cheap on short-term numbers...Given the progress the company has made on store margins and the emerging revenue mix shift to license and franchise fees, we think the stock will begin to discount the possibility of $20+ million EBITDA potential."
Dougherty changes include: FY12 revenues and adjusted EBITDA of $233.5 million and $12.6 million, respectively, to $235.8 million and $11.8 million, respectively.
For an analyst ratings summary and ratings history on Jamba click here. For more ratings news on Jamba click here.
Shares of Jamba closed at $2.11 yesterday.
Analyst, Gregory J. McKinley, said, "We are warming up to JMBA shares as accomplishment of 2012 goals will mark the first year in which JMBA produces any meaningful level of EBITDA (we estimate $11.8 million) since we have covered them. JMBA shares are valued at 13.8x our revised FY2012E EBITDA estimate (we have included $17.8 million of redeemable preferred stock as debt in our EV calculation) based on our projected year end balance sheet. So, the stock isn’t cheap on short-term numbers...Given the progress the company has made on store margins and the emerging revenue mix shift to license and franchise fees, we think the stock will begin to discount the possibility of $20+ million EBITDA potential."
Dougherty changes include: FY12 revenues and adjusted EBITDA of $233.5 million and $12.6 million, respectively, to $235.8 million and $11.8 million, respectively.
For an analyst ratings summary and ratings history on Jamba click here. For more ratings news on Jamba click here.
Shares of Jamba closed at $2.11 yesterday.
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