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Fly News Breaks for November 6, 2018
FRGI
Nov 6, 2018 | 08:20 EDT
Stephens analyst Will Slabaugh noted that same-store sales growth at both Pollo Tropical and Taco Cabana beat his and consensus estimates in Q3 and said he is encouraged by early progress in both brands' turnarounds. Slabaugh lowered his FY18 earnings forecast after the results evidenced lower profitability at Taco Cabana as the brand works through its turn around and cut his price target on Fiesta Restaurant shares to $32 from $35, but keeps an Overweight rating on the stock.
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