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Fly News Breaks for February 22, 2019
NDLS
Feb 22, 2019 | 08:49 EDT
Jefferies analyst Andrew Barish upgraded Noodles & Company to Buy from Hold with an unchanged price target of $11. The analyst says he has more confidence in the sustainability of the company's growth drivers for same-store-sales and margins, "particularly in terms of menu, price, and digital." Shares of Noodles & Company have not participated in the market and group rally, Barish tells investors in a research note. He believes the company's same-store-sales growth can continue for "many quarters to come" and thinks the prior "peak" EBITDA of $45M "is not out of sight" for 2020.
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