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Noodles & Company (NDLS) stock has dropped from $49 to $39 after the company beat earnings and revenue but kept guidance for 2013 the same. NDLS recently bounced off $39 and is trading around $40. The company continues to open new restaurants and will open a new restaurant in San Francisco, CA and Orlando, FL in the fall. Noodles & Company has around 350 restaurants with a goal of 2,500 in 10-15 years.
Noodles & Company (NDLS) continues to be a strong buy below $40 and I have a 2014 price target of $65 for the stock. When Chipotle (CMG) when public back in 2006, the stock hit $67 and then dropped to $49. Volatility will remain for NDLS as long as there is a debate on how to value the company. NDLS is my largest long term holding with an average price of $38 per share. If the stock stays around $40 when I allocate more capital to my long term portfolio in December 2013, I will be buying more NDLS no doubt.
Also see - Top Stocks 2013 - Top Stock Gainers 2013
