Jamba "buy," estimates raised
Thursday, September 20, 2007 3:31:31 AM ET
Morgan Joseph & Co
NEW YORK, September 20 (newratings.com) - Analysts at Morgan Joseph reiterate their "buy" rating on Jamba Inc (ticker: JMBA), while raising their estimates for the company. The target price is set to $13.
In a research note published yesterday, the analysts mention that the company has announced the takeover of 22 stores from two franchised organizations for an estimated price of $10-$12 million. These stores are estimated to be generating $15.4 million in annual revenues and are expected to be accretive to Jamba’s annual EPS by $0.03, the analysts say. The EPS estimates for 2007 and 2008 have been raised from $0.24 to $0.25 and from $0.27 to $0.29, respectively.
