These Analysts Increase Their Forecasts On Portillos Following Better-Than-Expected Q3 Results

Portillos Inc (NASDAQ:PTLO) on Thursday reported better-than-expected third-quarter financial results.

Portillos reported quarterly earnings of 6 cents per share which beat the analyst consensus estimate of 2 cents per share. The company reported quarterly sales of $194.100 million which beat the analyst consensus estimate of $193.178 million.

“We delivered third-quarter results ahead of our expectations, and I’m encouraged by the early progress from the actions we have taken to strengthen our operations and business fundamentals,” said Brett Patterson, Portillo’s Chief Executive Officer. “While we are encouraged by the progress, one quarter does not establish a trend. We have significant work ahead, and our focus remains on executing consistently and building a foundation for durable profitable growth.”

Portillo’s shares fell 2.9% to $6.82 in pre-market trading.

These analysts made changes to their price targets on Portillo’s following earnings announcement.

• Stephens & Co. analyst Jim Salera maintained the stock with an Equal-Weight rating and raised the price target from $5 to $7.
• DA Davidson analyst Matt Curtis maintained the stock with a Neutral and raised the price target from $5 to $7.

Considering buying PTLO stock? Here’s what analysts think:

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