BJ's Restaurants Has Potential For Pre-COVID Economic Recapture, Analyst Says
Portfolio Pulse from Nabaparna Bhattacharya
Wedbush analyst Nick Setyan has reiterated an Outperform rating on BJ's Restaurants, Inc. (NASDAQ:BJRI), raising the price target to $42 from $38. The company's Q2 results showed a 6.1% increase in total revenues to $349.7 million. Setyan believes BJRI can recapture pre-COVID unit economics and annual growth rates. The analyst also increased the 2023 and 2024 EPS estimates to $0.99 and $1.43 respectively.
July 28, 2023 | 6:25 pm
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BJ's Restaurants, Inc. has received an Outperform rating from Wedbush analyst Nick Setyan, who also raised the price target to $42. The company's Q2 results showed a 6.1% increase in total revenues.
The positive rating and raised price target by the analyst, along with the company's strong Q2 results, indicate a positive short-term impact on BJRI's stock. The analyst's belief that the company can recapture pre-COVID growth rates also adds to the positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100