PFCB Posts Strong Q4 Results On Better Operating Performance

Analyst David E Tarantino of Robert W Baird maintains his "neutral" rating on PF Chang's China Bistro Inc (NASDAQ: PFCB), while raising his estimates for the company. The target price for PFCB has been raised to $42.

PF Chang's China reported its Q4 results significantly ahead of the estimates and consensus, driven by a better-than-expected operating performance and an extra operating week.

“We view EPS guidance as achievable, as strength in margin trends (supported by good execution) could offset any revenue shortfall related to a continuation of sluggish Bistro comps,” the analyst says. Robert W Baird has raised its EPS estimate for FY10 from $1.81 to $2.00.

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