Chuy’s price target lowered to $38 from $41 at Wedbush

Wedbush analyst Nick Setyan lowered the firm’s price target on Chuy‘s to $38 from $41 and keeps an Outperform rating on the shares. Q4 EPS was above expectations despite softer same-store sales growth, resulting in 2024 EPS guidance below expectations, the analyst tells investors in a research note. Wedbush believes Chuy’s is undervalued relative to its long-term annual growth algorithm of mid-single to high-single digit EBITDA growth and at least low-teens EPS growth.