BurgerFi price target lowered to $3 from $4 at BTIG

BTIG lowered the firm’s price target on BurgerFi to $3 from $4 but keeps a Buy rating on the shares. The company posted another very weak quarter as continued same-store sales softness drove deleverage across the income statement and led to a reduction in guidance, the analyst tells investors in a research note. Looking ahead, BurgerFi management is focused on expanding menu options, most notably the chicken sandwich at BurgerFi, and also improving technology at both brands to enhance profitability, the firm added.