UPDATE: BGB Securities Raises PT to $30 on AFC Enterprises on Strong Quarter

BGB Securities reiterated its Buy rating on AFC Enterprises (NASDAQ: AFCE) and increased its price target to $30 per share.

BGB Securities noted, “We are reiterating our Buy rating and raising our price target to $30 after posting another solid quarter. AFCE posted same store sales (SSS) of 6.3% and raised tis CY12 guidance 50bps to between 6%-6.5%. Global System Wide sales were a robust 10.5%, continuing its double digit trend this year, versus 6.6% for CY11."

AFC Enterprises closed at $25.73 on Thursday.