Rick's Cabaret (NASDAQ: RICK)
My target price for Rick's Cabaret is $24.00.
Near Term Catalysts
- Management to give FY2014 guidance before end of fiscal year
- My non-GAAP EPS estimates of $1.46 (FY13) -> $1.94 (FY14 est.) -> $2.39(FY15 est.) show new acceleration trend.
- Vivid Los Angeles to open soon, providing an operational beach head in the West Coast.
- Vivid NYC to open in time for upcoming Super Bowl XLVII in NY.
- "Breastaurants" are the second hottest category in the restaurant sector.
- New Ricky Bobby and Bombshells concepts makes Rick's a serious competitor in this category.
- Q3:FY2014 earnings beat of $0.36 shows higher margin clientele are returning to Rick's clubs.
- Management could announce a plan to unlock their balance sheet
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