Oppenheimer reiterates an Outperform rating and $57.00 price target on Bob Evans Farms (NASDAQ: BOBE) following 4Q15 results. Adjusted EPS of $0.56 beat Street's $0.41E. '16 EPS guidance was initiated at $1.75-1.95 vs. Street's $1.86E.

Analyst Brian Bittner commented, "An earnings beat and in-line '16 guidance is a step in the right direction to rekindle investor confidence. EPS upside was driven mostly by lower sow costs and limited by deleverage on labor line again. Into fiscal '16, investors could look forward to catalysts in the form of real estate monetization, G&A reductions, restaurant cost controls and announcement of a new CEO. These set the stage for meaningful change for the company (and hopefully its earnings power and valuation as well). Reiterate Outperform rating."

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Shares of Bob Evans Farms closed at $47.50 yesterday.