BJ’s Restaurants upgraded to Hold at Gordon Haskett as risk/reward balanced

Gordon Haskett upgraded BJ’s Restaurants (BJRI) to Hold from Underperform with a $36 price target The firm sees a balanced risk/reward given BJ’s Restaurants’ recent success in zeroing in on a value platform that drives traffic and preserves margins and the recently-announced cooperation agreement with Act III, which comes with a heightened sense of urgency for BJ’s to deliver operational and cost efficiencies, overhaul the unit development strategy and pursue greater capital allocation prudence, the analyst tells investors in a research note.