UPDATE: Miller Tabak Raises PT on Bravo Brio Restaurant Group on Private Fund Raising

In a report published on Tuesday, Miller Tabak analyst Stephen Anderson raised the price target on Bravo Brio Restaurant Group (NASDAQ: BBRG) from $22 to $24 and maintained the rating of Buy on the company.

In the report, Miller Tabak noted, "...following news that a private equity fund known for past activism has raised its stake in the company and is seeking to increase shareholder value. We prefer not to comment on specific plans, but as we think BBRG has a valuation more akin to a more mature restaurant company than a high- growth one, we argue there is room for more substantial upside in the share price."

Bravo Brio Restaurant Group closed Monday at $17.99.