Jefferies analyst Andy Barish reiterated a Buy rating and $27 price target on El Pollo Loco (NASDAQ: LOCO) following Q4 results.

Barish commented, "EPS $0.14 (+55%) beat cons $0.12 as SSS surprised (7.6% vs cons 6.1%) & margins benefited from lower labor costs. LOCO now has 3 stores open in Houston and initial results continue to exceed expectations, paving the way for what we think will be a significant LT development opportunity in TX. Reiterate Buy as we think current 15x EBITDA valuation underappreciates LOCO's robust unit gr opportunity & top-tier operating metrics (MSD-HSD comps & ~20%+ EPS growth)."

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Shares of El Pollo Loco closed at $24.00 yesterday.