UPDATE: BMO Capital Downgrades Chuy's Holdings (CHUY) to Market Perform

February 25, 2021 4:29 AM EST
Get Alerts CHUY Hot Sheet
Price: $43.79 -0.48%

Rating Summary:
    3 Buy, 10 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 20 | Down: 24 | New: 32
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(Updated - February 25, 2021 5:15 AM EST)

BMO Capital analyst Andrew Strelzik downgraded Chuy's Holdings (NASDAQ: CHUY) from Outperform to Market Perform with a price target of $42.00.

The analyst comments "We are downgrading CHUY to Mkt, though raise our target to $42. We continue to view long-term fundamentals favorably and expect CHUY to be a prime beneficiary of reopening. However, the investment case for CHUY is less persuasive at current valuation as we believe risk/reward has become more balanced following recent share price outperformance. We apply a higher 12.5x multiple to $60m post-pandemic EBITDA, reflecting potential upside, and more in line with valuation for full-service peers that have similar unit growth rates as what we believe CHUY can achieve post-pandemic."

For an analyst ratings summary and ratings history on Chuy's Holdings click here. For more ratings news on Chuy's Holdings click here.

Shares of Chuy's Holdings closed at $43.95 yesterday.

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