Piper Sandler raised the firm’s price target on BJ’s Restaurants (BJRI) to $40 from $36 and keeps a Neutral rating on the shares following quarterly results. For the quarter, the same-store sales result of +2.9% was in-line with consensus, while RLMs were nicely above. That said, the release mentions a “slow start” to July from a same-store sales perspective, which likely tempers investor enthusiasm a bit, even though management went on to say that trends have since normalized, Piper adds.
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