- Quarter-to-date sales trends are notably lower than peers which have reported to date, says Piper Jaffray's Nicole Regan, cutting her full-year EPS estimate to $0.45 from $0.48 and the price target to $25 from $32, but maintaining an Overweight rating. "We do not believe the Noodles (NDLS -28.2%) story is fundamentally broken."
- Also cutting estimates, but maintaining a buy recommendation is Jefferies.
- Throwing in the towel on buy ratings are Baird and Janney Capital.
- Previously: Noodles -13.2% after comps disappoint (Feb. 19)