Brean Murray Carret: Rick's Cabaret Continues to Work It

In a recent research report, Brean Murray Carret has reiterated its Buy rating and $14 PT on Rick's Cabaret International (NASDAQ: RICK) after the company reported the third consecutive quarter of consistent EPS gains of $0.23.

Brean Murray Carret commented in the report, “We believe implementing new internal systems (which has given management the ability to closely monitor each club's performance and quickly react to trends), and targeting a wider range of customers (becoming less reliant on the high-rollers and more resistant to economic downturn), combined with the increased levels of traffic as a result of the return of the NBA, has driven top and bottom-line growth.”

Rick's Cabaret closed yesterday at $10.40.