Piper Jaffray reported on Friday that they are maintaining their current rating on fast food chain, Burger King Worldwide Inc(BKW).
The firm has reaffirmed its “Overweight” rating and $22 price target on the company. This price target suggests a 21% increase from the stock’s current price of $17.36.
An analyst from the firm commented, “Burger King delivered 4Q12 operating earnings of $0.23 per share, which was ahead of our estimate. We are encouraged to see top-line results driven in part by global same-store sales of +2.7%, while total year-over-year dollars were down driven by the refranchising of stores. Currently, comps are running in (LSD) range. We are maintaining our Overweight rating and $22 price target on BKW shares. Our target is based on 15x FY13E EV/EBITDA.”
Burger King shares were mostly flat during premarket trading Tuesday. The stock has increased 15% in the past year.
The Bottom Line
Shares of Burger King Worldwide Inc(BKW) have a 0.92% yield, based on Friday’s closing price of $17.36.
Burger King Worldwide Inc(BKW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.