Wedbush raised its rating on Buffalo Wild Wings (BWLD) to "neutral" from "underperform" on Thursday morning. The firm has a price target of $115 on the stock.

Wedbush believes the current valuation is reflective of a lack of viable solutions in regards to deteriorating fundamentals. The firm also believes that the current guidance risk and consensus EPS is better understood now.

Wedbush expects Buffalo Wild Wings' refranchising plan to drive additional value over the long term.

Buffalo Wild Wings is a Minneapolis-based restaurant owner, operator, and franchiser with locations in all 50 states.

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