Fiesta Restaurant Group Gets Bullish Nod at Wedbush Securities

Wedbush Securities' Restaurant Analyst Nick Setyan is bullish on Fiesta Restaurant Group (FRGI), owner of the Pollo Tropical and Taco Cabana fast-casual restaurant chains.
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Wedbush Securities' Restaurant Analyst Nick Setyan is bullish on Fiesta Restaurant Group (FRGI), owner of the Pollo Tropical and Taco Cabana fast-casual restaurant chains. Setyan is reiterating his OUTPERFORM rating on the shares and has a 12-month price target of $55 a share. Setyan says Pollo has the highest top line growth in the publicly traded restaurant space. He says Pollo will continue to be a leader for the foreseeable future. Setyan says Fiesta's latest restaurant concept, Cabana Grill, which it recently opened in Atlanta, could be a home-run. Setyan says Fiesta's current valuation is justified by Pollo alone, which means investors basically get Cabana for free. Ruben Ramirez reports from Wall Street.