Wedbush Upgrades BJ's Restaurants (BJRI) to Outperform; Solid Q1 Checks and Reacceleration in Same-Store Sales

Wedbush upgraded BJ's Restaurants (NASDAQ: BJRI) from Neutral to Outperform, price target raised from $47 to $57.

Analyst, Nick Setyan, said, "We believe that Q1 SSS expectations may prove conservative based on the strength of our most recent checks. We further believe that BJ’s SSS growth is poised to reaccelerate in 2H:12 ahead of current consensus expectations, leading to positive earnings revisions."

"Increasing our 2012 EPS estimate to $1.36 from $1.30 to incorporate increased expectations. Increasing our 2013 EPS estimate to $1.67 from $1.60."

For an analyst ratings summary and ratings history on BJ's Restaurants click here. For more ratings news on BJ's Restaurants click here.

Shares of BJ's Restaurants closed at $47.24 yesterday.

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