Barclays Maintains Underweight on BJ's Restaurants, Raises Price Target to $30
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Jeffrey Bernstein has maintained an Underweight rating on BJ's Restaurants (NASDAQ:BJRI) but increased the price target from $25 to $30.
January 03, 2024 | 12:15 pm
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Barclays has maintained an Underweight rating on BJ's Restaurants but raised the price target from $25 to $30, indicating a potential downside risk but with a slightly improved outlook.
The Underweight rating suggests that Barclays believes BJRI stock may underperform the sector or the broader market. However, the increase in the price target from $25 to $30 indicates a slightly more positive outlook on the company's future share price, albeit still below the current market price. This could lead to short-term negative sentiment as the market digests the implications of the Underweight rating despite the higher price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100