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Fly News Breaks for January 30, 2020
Jan 30, 2020 | 08:05 EDT
Raymond James analyst Brian Vaccaro upgraded Ruth's Hospitality to Outperform from Market Perform with a $25 price target. In a research note to investors, Vaccaro says the stock decline is "a bit puzzling," given high end steakhouse segment comps were positive and better than expected in recent months and 2H19margin headwinds on high prime beef inflation seem discounted, with margin visibility and EPS growth seen improving through 2020. The analyst sees upside to Q4 and 2020 consensus estimates, and says Ruth's is a quality company with under-appreciated attributes.
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