Oppenheimer Upgrades Monro Muffler Brake Inc. (MNRO) to Outperform

Oppenheimer analyst Brian Nagel upgraded Monro Muffler Brake Inc. (NASDAQ: MNRO) from Perform to Outperform with a price target of $40.00.

The analyst comments: "We upgrade Monro (MNRO) to Outperform (from Perform) and establish a 12-18 month target of $40 for shares. Monro represents a leading chain of aftermarket automotive tire and service centers, operating roughly 1,100 units, primarily in the eastern US. For some time, trends at MNRO tracked uneven, and generally soft, as macro and competitive headwinds aggravated seemingly long-standing, internal short-comings. While challenges for MNRO remain, we are now optimistic that under direction of new senior leadership, dynamics for the chain are solidifying, and should give way to steadily strengthening sales and improved operating leverage, in coming periods, and particularly as sector dynamics turn more favorable. Our client conversations suggest that for many smaller cap consumer stock investors, MNRO has largely “fallen below the radar.”"

For an analyst ratings summary and ratings history on Monro Muffler Brake Inc. click here. For more ratings news on Monro Muffler Brake Inc. click here.

Shares of Monro Muffler Brake Inc. closed at $21.32 yesterday.

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