NEW YORK (TheStreet) -- TheStreet's Jim Cramer notes Popeyes Louisiana Kitchen (PLKI) reported its latest quarterly results that were "nothing to write home about," but the stock still increased. He reasons the stock has the potential to soar once the company reports earnings that beat expectations.
Cramer expects this to happen under the leadership of CEO Cheryl Bachelder, one of his "Bankable CEOs." Bachelder has produced incredible performance for Popeyes in the last several years, similar to Sally Smith (another "Bankable CEO") at Buffalo Wild Wings (BWLD).
Cramer says now is an opportunity to get into Popeyes before it starts to report strong numbers and the stock surges. Once it does, he thinks the stock could hit $50.
Separately, TheStreet Ratings team rates POPEYES LOUISIANA KITCHEN as a "buy" with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate POPEYES LOUISIANA KITCHEN (PLKI) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."