Guggenheim analyst Matthew DiFrisco lowered his price target on El Pollo Loco (NASDAQ: LOCO) to $15.00 (from $18.00) while maintaining a Buy rating.

DiFrisco notes the 1.0% 4QTD system SSS reflects a dramatic slowdown to the 2-year SSS trend q/q as traffic remains negative and management cited sustained competitive discounting.

The firm is keeping the Buy rating as they see two potential catalysts to shares: Management recently "relaunched" the brand in Dallas focusing on core operations and marketing which could re-invigorate sales trends.