Fly News Breaks for August 8, 2019
Aug 8, 2019 | 07:27 EDT
Stephens analyst Will Slabaugh lowered his price target on Fiesta Restaurant Group shares to $14 from $25 after both of its brands missed expectations in Q2, noting that weather in Texas and Florida "clearly weighed on results." His price target cut reflects both his lowered estimates and an adjustment based on market sentiment among micro caps, the analyst noted. He continues to believe that Pollo Tropical and Taco Cabana are moving in the right direction and sees significant asset value in each brand, leading him to keep an Overweight rating on Fiesta shares.
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