UPDATE: Longbow Research Reiterates on Buffalo Wild Wings Following Huge 1Q14 Beat

In a report published Tuesday, Longbow Research analyst Alton Stump reiterated a Buy rating on Buffalo Wild Wings (NASDAQ: BWLD), and raised the price target from $165.00 to $184.00.

In the report, Longbow Research noted, “BWLD is currently trading at 21.7x our revised 2015 EPS estimate, which compares to the company's 10-year average forward earnings multiple of ~23x and ~17x for the overall restaurant sector. Following BWLD's sharp beat on both the EPS and same-store sales fronts in 1Q14, we have increased conviction the company represents one of the best earnings upside stories within the publicly-traded casual dining sector. We are reiterating our BUY rating on BWLD and are raising our 12-month target price from $165 to $184 based on 30x our revised 2015 EPS estimate.”

Buffalo Wild Wings closed on Monday at $133.39.