Barclays raised the firm’s price target on BJ’s Restaurants to $33 from $30 and keeps an Underweight rating on the shares. The company’s Q4 comp and earnings were below consensus, but restaurant margin was resilient, driven by cost saves, the analyst tells investors in a research note. The firm says BJ’s 2024 guidance continues to assume “outsized” 15% EBITDA growth, although driven more by margins and less by comp and unit growth.
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