Morgan Keegan Reports Q1 On BJ's Restaurants

According to Morgan Keegan, BJ's Restaurants (NASDAQ: BJRI) saw impressive Q1 on strong revenue.

Morgan Keegan said that it is raising the price target to $42, assuming 33x our 2012 EPS, 12.5x 2012 EBITDA. “While we believe a considerable premium to its peers is warranted given its significant unit growth and consistent SSS/traffic outperformance, we believe multiple expansion appears limited.”

BJ's Restaurants closed yesterday at $43.45.