Jefferies Cuts Price Target on Bojangles' (BOJA) to $22 Following 4Q

Jefferies maintained a Buy rating on Bojangles' (NASDAQ: BOJA), and cut the price target to $22.00 (from $24.00), following the company's 4Q earnings report. BOJA beat 4Q EPS on better margins and slightly positive SSS. Given the unprecedented competitive discounting in QSR with bundled meals/all-day breakfast, fears of Bojangle's demise were overdone.

Analyst Andy Barish commented, "BOJA beat 4Q EPS on better margins and slightly positive SSS in what we knew was a challenging qtr for the company based upon lap, weather and competitive discounting. 1QTD SSS +2%, a positive, and although guide conservative in some regards, we believe it could be beatable. We tweak '16/'17 slightly lower but firmly believe this growth story is intact and sector fears are overdone. Buy with Price Target to $22 (from $24), still some 50% upside."

For an analyst ratings summary and ratings history on Bojangles' click here. For more ratings news on Bojangles' click here.

Shares of Bojangles' closed at $15.03 yesterday.

You May Also Be Interested In

• DraftKings Inc. (DKNG) PT Lowered to $48 at UBS on Updated Estimates Post Q2
• UBS Reiterates Neutral Rating on Intuit (INTU), Says Investor Day Not 'Sentiment-Changing'
• AutoZone (AZO) PT Lowered to $3,500 at Oppenheimer