Potbelly (PBPB) PT Lifted to $16 at Piper Jaffray Post Q4

Piper Jaffray analyst Nicole Miller Regan reiterated an Overweight rating and bumped her price target on Potbelly Corp (NASDAQ: PBPB) to $16.00 (from $14.00) following solid Q4 results.

Regan commented, "Potbelly delivered 4Q14 operating earnings of $0.06 per share vs. consensus at $0.03. In 4Q, we understand company comp results reflected approximately 2.0% price and 1.7% mix/traffic. We understand comp sales and traffic improved throughout the 4Q period and that the underlying positive momentum has continued into the 1Q15 period. We maintain our Overweight rating and are increasing our price target to $16 (from $14) based on 55x (unchanged) our increased FY15E EPS which reflects the better-thanexpected 4Q14 results and updated guidance around FY15 expectations."

The firm bumped FY 2015 EPS from $0.25 to $0.30 and maintained FY 2016 EPS at $0.37.

For an analyst ratings summary and ratings history on Potbelly Corp click here. For more ratings news on Potbelly Corp click here.

Shares of Potbelly Corp closed at $14.20 yesterday.

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