Jefferies Starts Noodles & Co. (NDLS) at Hold, $40 PT

Jefferies initiates coverage on recent IPO Noodles & Co. (NASDAQ: NDLS) with a Hold. PT $40.00.

The analyst comments, "Noodles & Company should consistently grow EPS 25% going forward as it emerges as a national fast-casual brand. We find the business model, growth and management very attractive, but believe the stock already anticipates much of this at current industry-leading valuations. Thus, we introduce coverage with a Hold rating and $40 PT.

NOTE: Jefferies was a book-runner on the company's recent $100 mm IPO."

For an analyst ratings summary and ratings history on Noodles & Co. click here. For more ratings news on Noodles & Co. click here.

Shares of Noodles & Co. closed at $42.70 yesterday.

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