Refile: BUZZ-Jersey Mike's rises as brokerages launch coverage with bullish views

Jersey Mike's Subs

24/08/2026 10:27

Corrects company name in headline
** Shares of sandwich chain Jersey Mike's Subs JMKE.N rise 1.13% at $24.13 premarket 
** At least four brokerages initiate coverage with largely bullish calls as post-IPO research quiet period ends
   ** IPO generated approximately $1 billion in proceeds after pricing at $23 per share, the midpoint of its marketed range
** Morgan Stanley, Jefferies, J.P. Morgan, Barclays and Guggenheim were joint book-running managers for the offering
** "With more than 3,300 U.S. locations, co still has room to densify its footprint, while international markets remain an upside opportunity, providing visibility into sustainable high single-digit unit growth in the medium term," say analysts at Morgan Stanley
** RBC says JKME's same-store sales growth is more resilient than peers, and strong franchisee returns support significant scope for further U.S. unit expansion
** Following are some of the ratings and PTs on the stock:
Brokerage
Rating
PT
Morgan Stanley
Overweight
$29
J.P. Morgan 
Overweight
$26
Jefferies
Buy
$29
RBC Capital Markets
Outperform
$28
Piper Sandler
Overweight
$29
     

 (Reporting by Kanishka Ajmera in Bengaluru)
 ((mail to: Kanishka.Ajmera@thomsonreuters.com))