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Fly News Breaks for January 10, 2018
CHUY
Jan 10, 2018 | 09:06 EDT
BMO Capital analyst Andrew Strelzik raised his price target on Chuy's to $30 after hosting a meeting with the company at ICR, saying the commentary from the management gives him confidence in solid Q4 SSS trends. Strelzik keeps his Market Perform rating however, adding that risk/reward in the stock price appears to be balanced at current levels, while the outlook for margin improvement in the near term remains uncertain.
News For CHUY From the Last 2 Days
CHUY
Sep 25, 2018 | 11:09 EDT
Baird analyst David Tarantino said Sonic's (SONC) agreement to be acquired by Inspire Brands, which also bought Buffalo Wild Wings last year, underscores that private equity firms continue to have interest in putting money to work in the restaurant sector, which he thinks could help to put a floor on the valuations of publicly-traded restaurant stocks. Among the stocks in the sector that he covers, Tarantino views Jack in the Box (JACK), El Pollo Loco (LOCO), Chuy's (CHUY), Habit Restaurants (HABT) and Potbelly (PBPB) as among those that theoretically could attract buyout interest at their current multiples, he tells investors.
CHUY
Sep 24, 2018 | 07:25 EDT
As reported earlier, BMO Capital analyst Andrew Strelzik also downgraded Brinker (EAT), Darden (DRI), and Chuy's Holdings (CHUY) to Underperform from Market Perform as part of his broader casual dining sector report and lowered their respective price target to $40 from $43, $96 from $105, and $23 from $28. The analyst cites expected deceleration of industry comps starting in Q4 of this year as a result of wider food-at-home/food-away-from-home gap coming from food commodity deflation. Strelzik says all of the downgraded companies have a tight correlation between comps and commodity prices and sees their EBITDA multiple expansions coming under pressure. The analyst adds that the widening gap will make the recent multiple expansion in the industry unsustainable in spite of recent sequential comps improvement at Brinker, strong brand positioning and value options at Darden, and "attractive" long term growth potential of new unit openings at Chuy's.
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