Portillo’s assumed with an Overweight at Piper Sandler

Piper Sandler analyst Brian Mullan assumed coverage of Portillo’s with an Overweight rating and $24 price target. The firm says Portillo’s can outperform peers even in the event of a softer macro environment. There is s “no debating the legitimate uniqueness of Portillo’s the concept,” the analyst tells investors in a research note.