Red Robin Gourmet Burgers gains after raising 2023 profit target

Red Robin Gourmet Burgers

25/05/2023 17:21

** Shares of restaurant chain Red Robin Gourmet Burgers Inc
 RRGB.O  rise 5.1% to $15.18  
    ** Co expects adj. core profit for fiscal 2023 in the range
of $70 mln to $80 mln vs previous forecast of $62.5 mln to $72.5
mln 
    ** Co also sees 2023 revenue of at least $1.3 bln 
    ** RRGB also reports Q1 revenue of $418 mln vs avg analysts'
estimate of $405.6 mln - Refinitiv
    ** At least two brokerages raise PT after results 
    ** Including session's gains, stock has more than doubled
YTD

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))