Red Robin price target lowered to $16 from $17 at Lake Street

Lake Street lowered the firm’s price target on Red Robin to $16 from $17 and keeps a Buy rating on the shares after the comapny reported second quarter results that came in mixed relative to the firm’s expectations. The firm now values shares at a 6-times EV/EBITDA multiple on its new $64.7M 2025 estimate, noting that it previously applied a 7-times multiple on its prior 2024 estimate.