Bravo Brio Restaurant Group (BBRG) has been initiated this morning with coverage from the research analysts at Miller Tabak. Tabak begins this new coverage of Bravo Brio with an initial price target set at $26 dollars and rates performance of BBRG as “buy.” Tabak noted that Bravo Rio is one of the fastest growing publicly traded restaurant companies and is appealing as a long-term play.
The buy rating before the market open today has not hurt BBRG in any way. In fact, shares of BBRG have finally broke to the upside beyond consolidation it had been languishing within for eight consecutive trading days. The consolidation of BBRG within the past eight days is actually one of the most massive cases of a continual ‘inside bar’ formation we’ve seen in quite some time for a large-cap stock.
Bravo Brio is slated to release their next earnings report on August 10th, 2011, and is estimated to post EPS of 14 cents. Their last earnings report was released on May 10th, 2011, and announced EPS of 18 cents with revenue totaling $90.4 million dollars. BBRG is currently trading above its 50 & 200-day moving averages and 2011 is currently an up year for the company after beginning 2011 trading somewhat slow.
Bravo Brio Restaurant Group, Inc. is a owner and operator of two distinct Italian restaurant brands, BRAVO! Cucina Italiana (“BRAVO!”) and BRIO Tuscan Grille (“BRIO”). The company has market capitalization of $420,634,350 and 19,251,000 shares outstanding. BBRG has a 52-week high of $23.17 with the low being $14.26 dollars.
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