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Fly News Breaks for May 23, 2018
RRGB
May 23, 2018 | 07:51 EDT
Stephens analyst Will Slabaugh said that while he is disappointed in Red Robin's top-line performance in Q1, he views its traffic versus the industry as a positive and he sees little added downside for the stock from the lower open he expects this morning on the heels of the company's earnings report. Slabaugh, who lowered his price target on the stock to $75 from $80, keeps an Overweight rating on Red Robin, stating that annualizing the labor savings evident in Q1 would "easily put estimates ahead of guidance."
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