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Fly News Breaks for September 15, 2017
BWLD
Sep 15, 2017 | 08:09 EDT
To reflect elevated wing costs and the likelihood for "subdued" near-term sales, Oppenheimer analyst Brian Bittner reduced further his Street-low 2017 earnings estimate for Buffalo Wild Wings. The analyst cut his earnings per share estimate to $4.18, below the Street's $4.52 and company guidance of $4.50-$5.00. He believes the stock's setup is "becoming interesting" into 2018. Bittner sees "meaningful" 2018 earnings accretion potential as Buffalo's higher-margin boneless wing strategy unfolds. He keeps an Outperform rating on the shares with a $135 price target.
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