Buffalo Wild Wings Shares Drop Following BMO Downgrade

Shares of the restaurant chain Buffalo Wild Wings (BWLD)  were lower Tuesday after BMO Capital Markets downgraded its rating for the company to market perform and lowered their price target from $190 to $185. BMO analysts said that "investors should wait for a more attractive entry point" highlighting that the stock has increased quickly, nearly 30% in value over the last 5 months. Also analysts say there's a potential for Buffalo Wild Wings 2017 earnings to not meet expectations, while the company may have to accelerate the timing of its cost saving and leverage initiatives for the stock price to continue to increase. This comes after activist investor Marcato Capital Management last week was reported to be pushing the company to sell its company-operated stores to new or existing franchises.