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Fly News Breaks for January 3, 2019
RRGB
Jan 3, 2019 | 06:19 EDT
Loop Capital analyst Lynne Collier kept Red Robin's Hold rating and $35 price target after the company disclosed the hiring of Lynn Schweinfurth as Executive Vice President and Chief Financial Officer. The analyst sees the appointment as an "incremental positive" for the company based on Schweinfurth's "strong professional background" along with allowing the current CFO Guy Constant to concentrate more on his new operations role. However, Collier also maintains a neutral stance on the stock in light of "recent top-line challenges", awaiting more evidence of improvement in same-store sales.
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