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BJRI - BJ's Restaurants Inc News Story

$19.55 0.1  0.5%

Last Trade - 22/05/20

Sector
Consumer Cyclicals
Size
Mid Cap
Market Cap £357.8m
Enterprise Value £482.3m
Revenue £925.3m
Position in Universe 2901st / 6359

BUZZ-Guggenheim adjusts restaurant portfolio after closures amid virus outbreak

Mon 30th March, 2020 1:19pm
** Brokerage Guggenheim adjusts its models, following
restaurant closures in the United States and abroad caused by
the coronavirus pandemic
    ** Skewed franchise models of Domino's  DPZ.N  and Dunkin'
Brands  DNKN.O  in U.S. continue to represent defensive
near-term buys - Guggenheim 
    ** Says casual diners led by Darden Restaurants  DRI.N ,
BJ's Restaurants  BJRI.O  and Cheesecake Factory  CAKE.O  offer
the greatest potential longer-term upside amid a recovery 
    ** Warns industry will likely feel wage pressure and incur
higher costs relating to employee benefits despite high
unemployment levels
    ** New employee benefits (such as paid sick leave), greater
health & safety protocols and potentially higher starting wages
to entice the unemployed to add to pressure - Guggenheim
     Company name         New PT      Old PT
   BJ's Restaurants        $25          $24
  Darden Restaurants       $75          $52
  Cheesecake Factory       $30          $26
       Domino's            $392        $411
    Dunkin' Brands         $71          $86
      McDonald's           $205        $237
     El Pollo Loco         $13          $16
    ** CAKE shares rose 14.6% premarket, while DPZ, BJRI, MCD,
DRI dipped between 0.3% and 2%

 (Reporting by Shreyashi Sanyal in Bengaluru)
 ((Shreyashi.Sanyal@thomsonreuters.com;))
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