Noodles & Co. (NDLS) PT Cut to $17 at RBC Capital

RBC Capital analyst David Palmer cut his price target on Noodles & Co. (NASDAQ: NDLS) to $17.00 (from $20.00) and reiterated an Sector Perform rating following weak Q1 results.

"We are lowering our EPS estimates and price target given our reduced outlook for 2015 earnings and the lack of visibility for longer-term earnings growth," Palmer said. "While we believe investments in marketing and food quality will drive increased brand awareness, we are cautious on the increasingly competitive fast casual segment."

The firm is lowering 2015 and 2016 EPS estimates to $0.39 (flat YOY, $0.46 prior) and $0.45 (+16% YOY, $0.58 prior).

For an analyst ratings summary and ratings history on Noodles & Co. click here. For more ratings news on Noodles & Co. click here.

Shares of Noodles & Co. closed at $20.71 yesterday.

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