In a report published Tuesday, Morgan Stanley analyst Jeronimo De Guzman reiterated an Equal-Weight rating on Arcos Dorados Holding ARCO, and named a $6.00 price target.
In the report, Morgan Stanley noted, “We update our estimates to reflect weaker FX, lower unit expansion, and higher margin pressure, leading to EBITDA reductions of 9% for 2014 and 13% for 2015. We remain cautious, given risks from weaker top line/margin trends and higher leverage levels.”
Arcos Dorados Holding closed on Monday at $5.47.
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