BJ’s Restaurants price target raised to $36 from $35 at Piper Sandler

Piper Sandler analyst Brian Mullan raised the firm’s price target on BJ’s Restaurants (BJRI) to $36 from $35 and keeps a Neutral rating on the shares following quarterly results. The firm notes that for the quarter, same-store sales of +1.7% were modestly above consensus. But despite this, adjusted EBITDA missed due to RLMs that were 80 bps below, and the shares reacted Friday in kind.