BJ’s Restaurants price target raised to $42 from $36 at CL King

CL King analyst Andrew Wolf raised the firm’s price target on BJ’s Restaurants to $42 from $36 and keeps a Buy rating on the shares. BJ’s Restaurants posted a Q4 earnings beat, driven by solid restaurant-level operating margins that achieved management’s goal of 12%+, despite same-store sale growth of 6.6% coming in light versus expectations, the analyst tells investors in a research note. The firm expects a continuation of the earnings recovery, driven by market share gains, accelerated high-return remodels and maturation of margin initiatives.