Piper Jaffray Reiterates Overweight on P.F. Chang's China Bistro (PFCB)

Piper Jaffray is out with its report today on P.F. Chang's China Bistro (NASDAQ: PFCB), reiterating Overweight.

In a note to clients, Piper Jaffray writes, "With its higher-than-peer exposure to corporate spending (approximately 15%-30%), PF Chang's may benefit from a macro T&E rebound. Meanwhile, we continue to like Pei Wei's fast casual positioning and believe comps likely remain in positive territory. We
reiterate our Overweight rating and $51 price target on PFCB shares."

Shares of PFCB closed Thursday at $47.18, down 0.97% from Wednesday's close.