Wells Fargo Starts Ruby Tuesday (RT) at Outperform; One-Two Combo To Help SSS In Next Few Quarters

Wells Fargo initiates coverage on Ruby Tuesday (NYSE: RT) with an Outperform. PT range $8-$9.

Analyst, Jeff Farmer, said, "We expect Ruby Tuesday to begin the long road back to same-store sales (SSS) growth in coming quarters, driven by the combination of (1) a long-overdue introduction of a relevant bundled value offering and (2) a return to national cable TV advertising following a multiyear absence...We have modeled flat SSS in FY2013E, a material improvement from the 4+% decline that will likely be posted in FY2012E."

For an analyst ratings summary and ratings history on Ruby Tuesday click here. For more ratings news on Ruby Tuesday click here.

Shares of Ruby Tuesday closed at $7.03 yesterday.

---

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

---

You May Also Be Interested In

• AMD (AMD) to offer senior notes in four parts
• Leerink Starts Freenome Inc. (FRNM) at Outperform
• Wells Fargo Upgrades FOX Corp. (FOXA) to Overweight