BJ's Restaurants, Inc. (BJRI) - Bull of the Day

By Zacks Equity Research,

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BJ's Restaurants ( BJRI ) remains well positioned to sustain its growth momentum, while generating improved earnings on the heels of efficient operations and innovative offerings. These also help the company to drive traffic and post robust same-store sales growth. The company also boasts a debt-free balance sheet.

The company remains committed to its unit growth beyond 2011 and believes that there is room for at least 300 restaurants. Additionally, the core Californian market, which had been badly hit during the housing downturn, has also begun to turn around. The gradual betterment of this market, one of the major operational locations for the company, is an important tailwind for BJ's.

Our six-month target price of $55.00 equates to about 41.7x our estimate for 2012. The target price implies an expected total return of 20.6% over that period. We recommend an Outperform rating on the shares.
BJ'S RESTAURANT ( BJRI ): Free Stock Analysis Report
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Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Investing Ideas , Stocks
Referenced Stocks: BJRI

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