Cowen analyst Andrew Charles lowered the price target on Habit Restaurants (NASDAQ: HABT) to $13.00 (from $15.00) while maintaining a Market Perform rating following the company's 4Q earnings report. Habit reported adjusted EPS of $0.03 relative to ($0.02) consensus. The beat was driven by restaurant level margins of 17.7%

Following in-line 4Q comps, Habit issued favorable 2019 comp guidance of 2%-3%. This implies hefty underlying acceleration from new initiatives that we believe are premature to give Habit full credit for.