Zoe's Kitchen (ZOES) PT Lowered to $14 at Cowen Following 1Q Report
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Cowen lowered its price target on Zoe's Kitchen (NYSE: ZOES) to $14.00 (from $19.00) while maintaining a Market Perform rating. Zoes reported 1Q17 adjusted EPS of $0.01, in line with the consensus estimate. Comps of -3.3% trailed the Consensus Metrix of -2%.
2017 comp guidance was significantly lowered from 1-2% to a wide range of flat to -3%, as 1Q traffic trends were described as continuing into 2Q despite easier compares.
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