BJ’s Restaurants initiated with a Neutral at DA Davidson

As previously reported, DA Davidson analyst Matt Curtis initiated coverage of BJ’s Restaurants (BJRI) with a Neutral rating and $38 price target The firm believes BJ’s Restaurants same-store sales momentum will likely be sustained over the next two years, but thinks valuation will remain “relatively muted” until there is “increased visibility on a return to meaningful unit expansion that would unlock accelerated earnings growth.”