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Fly News Breaks for April 4, 2019
RRGB
Apr 4, 2019 | 08:31 EDT
Loop Capital analyst Lynne Collier lowered her price target on Red Robin to $31 and kept her Hold rating after the company announced the transition of its CEO and pre-announced its Q1 comps below expectations. The analyst notes that while she is a "fan" of the new CEO Pattye Moore going back to her days at Sonic, she expects Red Robin's in-store traffic challenges to persist in the coming quarters because the company's cost cutting "likely went too deep".
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