Noodles & Company price target lowered to $4 from $5 at Stephens

Stephens lowered the firm’s price target on Noodles & Company to $4 from $5 and keeps an Equal Weight rating on the shares. The company’s Q3 results included better-than-expected same store-sales, revenue, restaurant level margins, and adjusted EPS, though looking out to Q4, the firm expects sequential deceleration on one-year same-store sales as the industry returns to more normalized spending patterns within the context of the quarter being seasonally slower for the Noodles concept, the analyst tells investors in a research note.