Portillo’s price target lowered to $10 from $13 at Stephens

Stephens lowered the firm’s price target on Portillo’s (PTLO) to $10 from $13 and keeps an Equal Weight rating on the shares following the company’s Q2 report. The firm believes continued execution on traffic-driving initiatives “remains paramount” for shares to regain momentum and progress towards the company’s long-term growth algorithm, the analyst tells investors in a post-earnings note.