Tuesday, June 02, 2015 11:58:17 AM
Bojangles stock falls 5% after analysts unleash neutral ratings
Published: June 2, 2015 10:04 a.m. ET
Shares of Bojangles BOJA, -5.39% fell nearly 5% on Tuesday after a post-IPO quiet period lifted and analysts served up mediocre views on the restaurant chain. Bank of America Merrill Lynch and Goldman Sachs both initiated coverage at neutral. Bank of America set a $30 price target, while Goldman set the bar lower at $23. Barclays initiated coverage at equal weight and set a $27 target, while PiperJaffray set a neutral rating and $27 target. The analysts were mostly positive on the restaurant chain despite their middle-of-the-road ratings. Bank of America analyst Joseph Buckley said his rating reflected a positive view on Bojangles' outlook, tempered by the stock's high valuation. Jefferies was even more positive, initiating coverage at buy on a $32 target. Shares of Bojangles are up 40% from their IPO price of $19 a share. However, they've fallen 2.8% since their first day of trade on May 8 and traded down 4.5% to $26.83 recently.
http://www.marketwatch.com/story/bojangles-stock-falls-5-after-analysts-unleash-neutral-ratings-2015-06-02?siteid=yhoof2
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM