Truist lowered the firm’s price target on Noodles & Company to $4 from $5 but keeps a Buy rating on the shares. The appointment of a “strong” new CEO overshadows the company’s Q4 earnings miss, the analyst tells investors in a research note. Drew Madsen appointment is a strong positive and the firm continues to see significant upside to the stock, Truist states, adding that it expects improvements in operations and the menu, along with an eventual reacceleration of development starting in FY26.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on NDLS:
- Noodles & Co. Appoints New CEO, Eyes Growth Phase
- Noodles & Company Announces Appointment of Drew Madsen as CEO
- Noodles & Company names Drew Madsen permanent CEO
- Noodles & Company Announces Fourth Quarter and Full Year 2023 Financial Results
- Noodles & Company sees FY24 revenue $510M-$525M, consensus $531.66M
