In a report published Wednesday, Jefferies analyst Alexander Slagle initiated coverage on Fiesta Restaurant Group FRGI with a Buy rating and $31.00 price target.
In the report, Slagle noted, “We like SSS momentum, accelerating unit growth & margin expansion, which we think drives EPS upside & 25%+ growth in 13/14. Our analysis suggests there is a very large development opportunity & significant EPS upside potential that does not appear to be reflected in the stock. We rate FRGI Buy. Jefferies acted as Joint Bookrunner on the recent follow-on offering at $24.25.”
Fiesta Restaurant Group closed on Tuesday at $27.26.
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