BurgerFi price target lowered to $5 from $6 at BTIG

BTIG analyst Peter Saleh lowered the firm’s price target on BurgerFi to $5 from $6 but keeps a Buy rating on the shares. The company continues to struggle with difficult sales comparisons, margin deleverage and a transitioning franchise base, while Anthony’s Coal Fired recovers its sales and starts to benefit from lower food costs, the analyst tells investors in a research note. The firm adds that the year ahead should produce consistent sales and stronger margin progress for Anthony’s, also stating that it is cautiously optimistic that BurgerFi can join that trend in the second-half as sales comparisons fade and improved marketing and menu efforts take hold.