Wells Fargo Resumes Coverage on Red Robin Gourmet Burgers (RRGB) at Market Perform

Wells Fargo resumes coverage on Red Robin Gourmet Burgers (NASDAQ: RRGB) with a Market Perform. PT range $37-39.

Analyst, Jeff Farmer, said, "In our view, impressive turnaround progress has been made by Red Robin, but is already reflected in the significant share price appreciation and multiple expansion delivered over the past six months."

Farmer also sees the company's Burger Works unit, which offers core menu items will help alleviate pressures from building competition (from Smashburger and Five Guys.

For an analyst ratings summary and ratings history on Red Robin Gourmet Burgers click here. For more ratings news on Red Robin Gourmet Burgers click here.

Shares of Red Robin Gourmet Burgers closed at $34.90 yesterday.

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