Zoe's Kitchen (ZOES) Bullish Stance Reiterated at Piper Jaffray On 'The Next Layer' Thesis
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Rating Summary:
1 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 13 | New: 18
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Piper Jaffray analyst Nicole Miller Regan reiterated an Overweight rating and $34 price target on Zoe's Kitchen (NYSE: ZOES) based on the firm's “The Next Layer” thesis, which suggests the restaurant space remains investabe with the recipe for success = brand equity + asset-light growth + license opportunities.
Regan commented, "We believe Zoe's presents a highly compelling multidimensional growth restaurant story. With the concept’s strong value proposition paired with a culture of operational excellence we believe the brand is positioned to double units during the next four years. We maintain our Overweight rating and $34 price target on ZOES shares. We will be meeting with management (along with teams of other covered companies) at our upcoming Piper Jaffray Restaurant Tour in Dallas on September 16th."
For an analyst ratings summary and ratings history on Zoe's Kitchen click here. For more ratings news on Zoe's Kitchen click here.
Shares of Zoe's Kitchen closed at $28.37 yesterday.
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