Information Provided By:
Fly News Breaks for April 4, 2019
RRGB
Apr 4, 2019 | 06:42 EDT
As previously reported, BofA/Merrill downgraded Red Robin Gourmet to Neutral from Buy with a $33 price target following news CEO Denny Post is stepping down and the disappointing preliminary Q1 comp sales. Analyst Gregory Francfort has little comfort comps will turn positive and sees risk of a substantial EBITDA miss from rising commodities combined with labor costs.