Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Citigroup Upgrades P.F. Chang's to 'Buy'

Citigroup upgraded P.F. Chang's China Bistro (PFCB) to buy from hold.

Analyst Mark Kalinowski believes the industry's solid sales trends bode well for the restaurant operator's Mar. 31 sales release. He says P.F. Chang's has undeperformed other covered restaurant names by an average of 15.5% so far in 2004, and he looks for this gap to narrow.

Kalinowski notes there's also signs that the recent adoption of a reservation-taking system is leading to improved customer satisfaction and lower host-level turnover. He says P.F. Chang's is doing very well in his Casual-Dining Wait Time Survey, earning first place in 30 of 32 monthly surveys conducted.

He tweaked the $1.36 2004 earnings per share estimate to $1.37, raised the $1.71 2005 estimate to $1.72; and upped the $54 target to $60.

blog comments powered by Disqus