As previously reported, DA Davidson initiated coverage of El Pollo Loco (LOCO) with a Neutral rating and $11 price target DA Davidson noted reduced buildout costs have improved expected returns on new units, inciting greater franchised expansion interest. The firm told investors that it projects modest acceleration in earnings growth on renewed expansion, but prefers to see more evidence of geographic portability outside California as well as a sustainable inflection into positive traffic before becoming more optimistic.
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