BGB Securities Reiterates AFC Enterprises Buy

BGB Securities reiterated its AFC Enterprises AFCE Buy rating in a research report published today. BGB Securities has previously given AFC Enterprises a $21 price target. In the report, BGB Securities states, "Adj. EPS in 2Q11 was $0.23, up from $0.21 last year, but $0.02 below our $0.25 estimate. AFCE is investing to build infrastructure for growth, which hurt EPS by a few pennies, but we applaud management's disciplined strategy for pursuing growth and the investments that it requires." Shares of AFC Enterprises were trading at $12/42 at the time of posting, down 13.27% from Wednesday's market close.