Investment Banks Flock to Jersey Mike's with Positive Ratings

Jersey Mike's (NYSE:JMKE), the fast-casual sandwich chain, received initiation coverage from JPMorgan Chase & Co. and other major investment banks on Monday.

JPMorgan Chase set an 'overweight' rating with a $26.00 price target for Jersey Mike's stock, implying a 9.24% potential upside from its current price of $23.80. Several other firms also initiated coverage with positive ratings and price targets: Piper Sandler ($29.00), UBS Group ($27.00), William Blair ('outperform'), Evercore ('outperform', $28.00), Jefferies Financial Group ('buy', $29.00).

Twenty analysts have rated Jersey Mike's 'Buy', while three rate it 'Hold'. The average price target among these analysts is $28.43, according to MarketBeat.