Buffalo Wild Wings hits high

Investor's Business Daily

The sports bar operator's shares soared to a new high of 102.17 before ending the trading day up 1.9% to 101.24 after a Miller Tabak analyst upgraded its rating on Buffalo Wild Wings (BLWD) to buy from hold and raised its price target to 117 from 98 on the prospect of lower wing costs. The analyst believes lower corn feed prices will more than offset the seasonal rise in wings and set the stage for even cheaper wings in '14. He also expects Buffalo Wild Wings to enjoy more free cash flow beginning next year as the company expands its number of restaurants and gets more licensee income.

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