BJ's Restaurants, Inc. (BJRI) - Bull of the Day
January 25 2012 - 7:00PM
Zacks
BJ's Restaurants (BJRI) remains well positioned to sustain
its growth momentum, while generating improved earnings on the
heels of efficient operations and innovative offerings. These also
help the company to drive traffic and post robust same-store sales
growth. The company also boasts a debt-free balance sheet.
The company remains committed to its unit growth beyond 2011 and
believes that there is room for at least 300 restaurants.
Additionally, the core Californian market, which had been badly hit
during the housing downturn, has also begun to turn around. The
gradual betterment of this market, one of the major operational
locations for the company, is an important tailwind for BJ's.
Our six-month target price of $55.00 equates to about 41.7x our
estimate for 2012. The target price implies an expected total
return of 20.6% over that period. We recommend an Outperform rating
on the shares.
BJ'S RESTAURANT (BJRI): Free Stock Analysis Report
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