Portillo’s price target lowered to $9 from $12 at UBS

UBS analyst Dennis Geiger lowered the firm’s price target on Portillo’s (PTLO) to $9 from $12 and keeps a Neutral rating on the shares. Portillo’s reported lower than expected sales for Q2, as well as in-line margins, and reduced its 2025 revenue and EBITDA outlooks on softer than expected new store performance, the analyst tells investors in a research note. The firm expects new store performance to remain challenged at least in the near-term.