Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB) reversed, broke out and confirmed on 24 September at 24.24/share. Thus garnering a LTN Buy Signal with a 1yr price target at 51.40/share.
Jefferies raised the popular restaurant chain to Buy from Hold and also lifted the target price to 31 from 28. The consensus target is at 29.83.
2 of our Key technical indicators have turned Very Bullish in here. The Key support is at 23.28 and the major overhead resistance is at 25.07.
Red Robin Gourmet Burgers, Inc., together with its subsidiaries, develops, operates, and franchises full-service and casual-dining restaurants.
The company’s restaurants primarily offer burgers; various appetizers, salads, soups, seafood, and other entrees; and desserts, milkshakes, alcoholic and non-alcoholic specialty drinks, cocktails, wine, and beers.
As of 3 March 2021, it operated approximately 540 Red Robin restaurants across the United States and Canada, including locations operating under franchise agreements.
The company was founded in Y 1969 and is HQ’d in Greenwood Village, Colorado.
Have a healthy week, Keep the Faith!