Monro price target raised to $16 from $15 at Wells Fargo

Wells Fargo analyst David Lantz raised the firm’s price target on Monro (MNRO) to $16 from $15 and keeps an Equal Weight rating on the shares. The bar was low, but the firm attributes Monro outperformance to the positive Q4 comp inflection, accelerating quarter-to-date trends, and color around 4 focus areas for improvement. Wells is reluctant to chase as turnarounds are rarely linear and a heavy lift remains.