Fly News Breaks for January 21, 2020
Jan 21, 2020 | 08:59 EDT
SunTrust analyst Jake Bartlett lowered his price target on Carrols Restaurant to $12 after its ICR Conference presentation and its pre-announced Q4 results that included 2% comp growth, below his expected 5%. The analyst further cites the company's lower than expected net store count increase and his forecast for a large Popeyes' store acquisition being pushed back by a quarter to Q2 of 2020. Bartlett still keeps his Buy rating on Carrols Restaurant, saying its position as the largest Burger King franchisee and the expected easing in its operating costs should support valuation.
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