Portillo’s price target lowered to $8 from $9 at Roth Capital

Roth Capital lowered the firm’s price target on Portillo’s (PTLO) to $8 from $9 and keeps a Buy rating on the shares after its Q1 results. Negative post-quarter comp momentum sent shares sharply lower, but the firm is encouraged by a Q1 same-store sales beat that highlights the company’s promotional toolkit, reiterated four-wall margin guidance, and the rationalization of the 2027 unit pipeline, the analyst tells investors in a research note.