NEW YORK (TheStreet) -- Shares of BJ's Restaurants Inc. (BJRI) are up 2.13% to $35.74 in early trading Wednesday.
Oppenheimer (OPY) raised its price target to $40 from $30 and reiterated its "outperform" rating.
The firm also boosted its fiscal year 2014 earnings projection to 69 cents per share from 62 cents per share, and raised its 2015 earnings estimate to $1.02 per share from 83 cents per share.
In Oppenheimer's research note, it says BJ's Restaurants has already showed signs of better margin management in the first quarter of fiscal year 2014 despite negative comps.
TheStreet Ratings team rates BJ'S RESTAURANTS INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate BJ'S RESTAURANTS INC (BJRI) a HOLD. The primary factors that have impacted our rating are mixed; some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."