Chad Brand

Can Buffalo Wild Wings Fly?

The valuation isn't "cheap" but rarely would be for a company growing earnings 25% annually. I think a 30 P/E is very reasonable, which nets a price objective of ~ $60 sometime in 2007.

The fact that football season doesn't last forever is a non-issue. Earnings projections already factor in the seasonality of a sports bar business.

As for competition, the restaurant concept is always a crowded field, but BWLD is catching on nationwide, and there is little reason to believe that their target demographic (young men) won't continue to embrace it.