Street View: Brokerages initiate upbeat coverage of Jersey Mike's on digital, expansion bets

Jersey Mike's Subs

24/08/2026 15:20

** At least 17 brokerages initiate coverage on Jersey Mike's Subs JMKE.N with positive ratings following the sandwich chain's IPO last month that raised about $1 billion    
** BTIG launches coverage with "buy" and $28 PT, citing steady market-share gains, store expansion and brand strength that could help Jersey Mike's overtake Subway as the leading U.S. sandwich brand
** Jefferies cites a long runway for restaurant expansion and opportunities to increase customer visits through loyalty programs, digital tools and marketing initiatives, initiating with "buy" and $29 PT 
** TD Cowen also starts with "buy" rating with $26 PT, pointing to the company's steady same-store sales growth and high-single-digit unit growth
** Truist Securities says a larger social-media push could attract younger customers, alongside substantial U.S. and international expansion potential, initiating coverage with "buy" and $30 PT 
** Meanwhile, Morgan Stanley initiates coverage with "overweight" and $29 PT, arguing sandwiches are less indulgent and may be better positioned than burgers, pizza or fried chicken as GLP-1 use and consumer preferences evolve
** Shares of Jersey Mike's closed at $23.86 on Friday. They are up about 9.2% since their debut in July

 (Reporting by Shania S Thomas in Bengaluru)
 ((shanias.thomas@thomsonreuters.com;))