Morgan Stanley lowered the firm’s price target on Portillo’s (PTLO) to $9 from $10 and keeps an Equal Weight rating on the shares. Calendar Q3 demand “wasn’t bad at a high level,” but September slowed visibly, fast casual was weak, and much of quick service remained soft, the analyst tells investors in a Q3 preview for the restaurants and food distributors.
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Read More on PTLO:
- Portillo’s price target lowered to $8 from $10 at Stephens
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