CITIGROUP RAISE ARCO PRICE TARGET TO $32
Citigroup (C) Analysts Raise Price Target on Arcos Dorados Holdings Inc. Class A Shares (ARCO) to $32.00
Thursday, August 04, 2011 11:13 AM
Equities research analysts at Citigroup (NYSE: C) boosted their price target on shares of Arcos Dorados Holdings Inc. Class A Shares (NASDAQ: ARCO) to $32.00 in a research note to investors on Thursday. The analysts currently have a "buy" rating on the stock.
Separately, analysts at Bank of America Merrill Lynch initiated coverage on shares of Arcos Dorados Holdings Inc. Class A Shares in a research note to investors on Tuesday, May 24th. They set a "buy" rating and a $27.00 price target on the stock. Also, analysts at Morgan Stanley (NYSE: MS) initiated coverage on shares of Arcos Dorados Holdings Inc. Class A Shares in a research note to investors on Tuesday, May 24th. They set an "overweight" rating and a $26.00 price target on the stock.
Shares of Arcos Dorados Holdings Inc. Class A Shares traded down 1.54% during mid-day trading on Friday, hitting $25.01. Arcos Dorados Holdings Inc. Class A Shares has a 52 week low of $19.70 and a 52 week high of $25.95. The stock's 50-day moving average is $21.83 and its 200-day moving average is $22.12.
Arcos Dorados Holdings Inc. Class A Shares last announced its quarterly results on Monday, August 1st. The company reported $0.07 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.03 EPS by $0.04. The company’s quarterly revenue was up 28.7% on a year-over-year basis. On average, analysts predict that Arcos Dorados Holdings Inc. Class A Shares will post $0.25 EPS next quarter.
