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CHICAGO, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Potbelly Corporation (NASDAQ: PBPB) (“Potbelly” or the “Company”), the iconic neighborhood sandwich shop concept, today announced the date for the release of its third quarter 2024 financial results.
Restaurant stocks like Yum China (YUMC), El Pollo Loco (LOCO), Texas Roadhouse (TXRH) and Potbelly (PBPB) will get a boost from the Fed's rate cut.
PBPB's focus on franchise expansion, digital transformation and value-driven strategies position it well for future growth.
The average of price targets set by Wall Street analysts indicates a potential upside of 96.4% in Potbelly (PBPB). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
Restaurant stocks like LOCO, MHGU, PBPB, TXRH and WING are poised to benefit from the jump in sales.
Texas Roadhouse, Wingstop, Potbelly, El Pollo Loco and Meritage Hospitality are included in this Analyst Blog.
We have narrowed our search to five restaurant stocks that have solid growth potential for the rest of 2024. These are: TXRH, WING, LOCO, PBPB, MHGU.
The consensus price target hints at a 98.6% upside potential for Potbelly (PBPB). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.
Franchise Growth Acceleration (FGA) Initiative: Potbelly continues to make significant strides in its FGA Initiative, highlighted by the successful opening of new, smaller-format units, such as those in military installations. Operational and Financial Performance: Potbelly achieved higher-than-expected weekly sales and improved unit-level margins. Value Proposition and Promotional Strategy: To combat industry-wide traffic declines, Potbelly introduced the ‘Everyday Value Combo' to attract price-sensitive non-loyal guests while maintaining loyalty through its Perks program.
Investors need to pay close attention to Potbelly (PBPB) stock based on the movements in the options market lately.