Baird Starts Jersey Mike's Subs (JMKE) at Outperform

Baird analyst Chris O'Cull initiates coverage on Jersey Mike's Subs (NYSE: JMKE) with a Outperform rating and a price target of $27.00.

The analyst comments: “Initiating with an Outperform rating and $27 price target. JMKE offers investors a differentiated, domestically scaled brand with a durable growth profile, considerable global whitespace opportunity, and solid unit economics, checking all the boxes for a compelling restaurant growth investment, in our view. While we acknowledge current valuation metrics are above highly franchised peers, we argue a premium for JMKE shares can be justified by the company's strong growth profile, above-average earnings visibility (supported by healthy near-term operating momentum), and asset light business model (lower degree of capital intensity).”

For an analyst ratings summary and ratings history on Jersey Mike's Subs click here. For more ratings news on Jersey Mike's Subs click here.

Shares of Jersey Mike's Subs closed at $23.86 yesterday.

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