Monro Muffler Brake Inc. (MNRO) PT Raised to $86 at Oppenheimer

Oppenheimer analyst Brian Nagel raised the price target on Monro Muffler Brake Inc. (NASDAQ: MNRO) to $86.00 (from $70.00) while maintaining a Outperform rating.

Nagel commented, "In Oct. 2017, new CEO Brett Ponton took the reins of MNRO and introduced a significant strategic repositioning plan, whereby a renewed focus on store-level execution and customer connections would help to better leverage an already superior supply chain and acquisition acumen. Shares are now at an all-time high. We reviewed closely the MNRO business and our stance on shares. We recommend clients stick with MNRO. Key internal initiatives are only now starting to take hold, while demand dynamics within the space are improving. Indications of better, more consistent trends at MNRO should help to at least support the premium valuation at which shares now trade."

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