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Fly News Breaks for October 9, 2015
CHUY
Oct 9, 2015 | 06:52 EDT
Wedbush upgraded Chuy's to Outperform and increased its price target to $38 from $31. Analyst Nick Setyan's checks indicate Q3 same-store-sales growth is trending in the low-to-mid-single-digit range, above consensus of 2.5%. Setyan said acceleration in new unit maturation cycles is driving comp acceleration and new units are indicating better new store volumes compared to 2013 openings. The analyst sees earnings revisions ahead driven by cost controls and continued food cost tailwinds.
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