The Latest Breaking News from Nick Setyan

The company known for its chicken wings has been in business for 30 years.

When it comes to dining out, the U.S. is a nation divided. Some restaurant chains are hopping, but their outperformance can't hide the serious problems facing the industry.

Many Wall Street analysts fear a recession and its impact on the companies in its sector. Nick Setyan, managing director at Wedbush Securities covering the restaurant sector, does not. He explained his stance on PreMaret Prep Plus on Wednesday and shared a few picks and a pan.

Wedbush analyst Nick Setyan lowered the price target on Darden Restaurants Inc (NYSE:DRI) to $122 (3% upside) from $140 and kept a Neutral rating on the shares. The analyst noted that FY23 guidance is predicated on normalization in inflation trends in the second half and has lowered his FY23 EPS estimate to $7.60 from $8.41…

Wedbush analyst Nick Setyan lowered the price target on Chipotle Mexican Grill Inc (NYSE:CMG) to $1,800 (30% upside) from $2,000 and maintained an Outperform rating on the shares. The analyst noted CMG is poised to see accelerated market share gains in a post-COVID environment, resulting in sustained growth above pre-COVID levels. Setyan said the recent…

Analysts lowered the price target of Jack In The Box Inc (NASDAQ:JACK) following the company's Q2 results. Wedbush analyst Nick Setyan lowered the price target to $90 (35% upside) from $110 and maintained Outperform rating on the stock. The analyst thinks JACK's current valuation discounts an overly pessimistic view of the management's ability to…

Several analysts lowered the price target on Papa John's International Inc (NASDAQ:PZZA) following the company's Q1 results. BMO Capital analyst Andrew Strelzik reduced the price target to $130 from $145 but maintained an Outperform rating on the shares. Deutsche Bank analyst Brian Mullan decreased the price target to $109 (25% upside) from $122 and maintained a Hold…

Starbucks shares were rallying Wednesday after the coffee chain reported a second-quarter sales beat. The quarter was helped by strong growth and momentum in the North American segment. The big headwind facing the company is the impact of the China region, which analysts highlighted after the print. 

Analysts reduced their price target on Domino's Pizza Inc (NYSE:DPZ) after its Q1 earnings miss. RBC Capital analyst Christopher Carril lowered the price target to $440 from $480 (29% upside). Carril maintained an Outperform rating on the shares. The analyst specified that the delivery staffing challenges are the primary driver of weakness. Wedbush analyst Nick Setyan maintained…