S&P Equity Research Downgrades Select Restaurant Stocks Based on Valuation
November 04 2003 - 2:11PM
PR Newswire (US)
S&P Equity Research Downgrades Select Restaurant Stocks Based
on Valuation NEW YORK, Nov. 4 /PRNewswire/ -- Standard & Poor's
equity analyst covering restaurant companies downgraded shares of
several restaurants today, following a surge in share prices in
recent weeks. A leading provider of independent investment
research, ratings and indices, Standard & Poor's made this
announcement through Standard & Poor's MarketScope, its
real-time market intelligence service. "Many restaurant stocks have
surged over the past several weeks, which we attribute to improving
same-store sales trends," says Dennis Milton, Restaurants Analyst,
Standard & Poor's Equity Research Services. "While we believe
the restaurant industry is well positioned to benefit over the next
several years from demographic trends that favor dining out,
current valuations have caused us to revise our outlooks for
several stocks. We are downgrading to "Hold" (*** out of *****)
from "Accumulate" (**** out of *****) shares of Landry's
Restaurants (NYSE:LNY) at $25.70 per share, Steak n Shake
(NYSE:SNS) at $18.00 per share, and Bob Evans Farms (NASDAQ:BOBE)
at $30.60 per share. We are also downgrading the shares of
Cheesecake Factory (NASDAQ:CAKE) to "Avoid" (** out of *****) from
"Hold" (*** out of *****) at $41.80 per share," concludes Milton.
About Standard & Poor's STock Appreciation Ranking System
(STARS) Standard & Poor's STock Appreciation Ranking System
(STARS), which was first introduced on December 31, 1986, reflects
the opinions of Standard & Poor's equity analysts on the price
appreciation potential of 1,200 U.S. stocks for the next 12 month
period. Rankings range from five-STARS ("Buy") to one-STARS
("Sell"). About Standard & Poor's Standard & Poor's Equity
Research Services has the largest U.S. equity coverage count among
equity research firms that are not affiliated with a Wall Street
investment bank, analyzing 1,200 U.S. stocks. Standard &
Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is the
world's foremost provider of independent credit ratings, indices,
risk evaluation, investment research, data and valuations. With
5000 employees located in 20 countries, Standard & Poor's is an
essential part of the world's financial infrastructure and has
played a leading role for more than 140 years in providing
investors with the independent benchmarks they need to feel more
confident about their investment and financial decisions. For more
information, visit http://www.standardandpoors.com/. The analyst
quoted above is a Standard & Poor's equity analyst. He has no
affiliation with any company referenced above. He has no ownership
interest in any company referenced above. Standard & Poor's
other affiliates may provide services to the companies that are the
subject of this report. Standard & Poor's analytic services are
performed as entirely separate activities in order to preserve the
independence of each analytic process. In this regard, STARS, which
are published by Standard & Poor's Equity Research Services,
operates independently from, and has no access to information
obtained by Standard & Poor's Ratings Services, which may in
the course of its operations obtain access to confidential
information. Standard & Poor's analytic services are performed
as entirely separate activities in order to preserve the
independence of each analytic process. In this regard, STARS, which
are published by Standard & Poor's Equity Research Services,
operates independently from, and has no access to information
obtained by Standard & Poor's Rating Services, which may in the
course of its operations obtain access to confidential information.
DATASOURCE: Standard & Poor's CONTACT: John J. Piecuch
Communications Manager +1-212-438-1102 Web site:
http://www.standardandpoors.com/
Copyright
Steak N Shake (NYSE:SNS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Steak N Shake (NYSE:SNS)
Historical Stock Chart
From Sep 2023 to Sep 2024
Real-Time news about Stewart & Stevenson Com (New York Stock Exchange): 0 recent articles
More Steak N Shake Companies (The) News Articles