BUZZ-Piper Sandler sees inflationary pressures for BJ's Restaurants, cuts PT

BJ's Restaurants

08/04/2022 17:15

** Restaurant operator's  BJRI.O  shares down ~1.7% at
$24.65 
    ** Piper Sandler cuts PT on co to $38 from $45 
    ** Brokerage says inflation has reduced management's ability
to execute its growth timeline 
    ** Also expects inflationary pressures to cloud co's
same-store margins  
    ** Maintains 'overweight' rating, says BJRI shares currently
outperforming peers 
    ** Six of 11 brokerages rate the stock "buy" or higher,
three "hold" and two "sell" or lower; median PT is $40 -
Refinitiv data
    ** Including session's losses, shares down 28.7% YTD 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))