Stephens: BJ's Restaurants Soars On Strong Comps Even As The Sector 'Wobbles'
Stephens: BJ’s Restaurants NASDAQ:BJRI Soars On Strong Comps Even As The Sector ‘Wobbles’

BJ’s Restaurants, Inc. BJRI 12.79% shares jumped Friday after the chain restaurant’s fourth-quarter earnings beat that included a 1.6-percent rise in comps.

The Analyst

Stephens analyst Wil Slabaugh reiterated an Overweight rating on BJ’s Restaurants and raised price target from $40 to $45.

The Thesis

New initiatives at BJ’s Restaurants continue to drive sales, the analyst said in a Friday note. Same-store sales posted positive growth in every week except one in Q4, he said.

BJ’s quarter-to-date comp figure accelerated to 3.5 percent while the overall industry softened, which is indicative of BJ’s initiatives and message…