Einstein Noah Restaurant Group (BAGL): BAGL: SG Cowen Starts @ Outperform; Anal...

Reply Private New

Next 10 Prev Next

Send PM Follow Ignore

Followers	194
Posts	46946
Boards Moderated	1
Alias Born	11/09/2004

eastunder

Re: None

Monday, 07/23/2007 6:22:09 PM

Monday, July 23, 2007 6:22:09 PM

BAGL: SG Cowen Starts @ Outperform; Analyst Notes

Wednesday, July 18, 2007 08:49ET

Issuer: Einstein Noah Restaurant Group, Inc. (NasdaqNM: BAGL)

Analyst Firm: SG Cowen & Co.

Ratings Action: INITIATE

Current Rating: Outperform

Analyst Comments: In the firm's opinion, BAGL can eventually grow its asset base 4-fold (to 2,500+ units from 600 today) at an incremental ROE of over +20% (helped by a high +75% forward franchise mix of new stores). Their 2007 and 2008 EPS estimates are 97c and $1.03, respectively, and they believe BAGL shares can outperform the market by over +25% over the next 12 months.

This rating information was reported by SG Cowen & Co..

"It was the best of times, it was the worst of times; it was the age of wisdom, it was the age of foolishness;

-- Charles Dickens