Noodles & Co stock was on its way up today thanks to high expectations for zoodles.
For those that don’t know, zooldes are noodles made with zucchini. Noodles & Co (NASDAQ:NDLS) started selling dishes that include this type of noodle as a healthy alternative to traditional noodles a few months ago. This includes benefits such as lower carbs and calorie counts.
At least one analyst believes that zooldes will be a boon to Noodles & Co stock. SunTrust Robinson Humphrey’s Jake Bartlett notes that the strength of the zoodles during the last quarter shows signs that Noodles & Co has a winning product on its hands.
As a result of all this, Bartlett is putting more faith in Noodles & Co stock. This includes increasing the target price of Noodles & Co stock from $11 per share to $15 per share. NDLS stock was trading at $11.43 per share when the markets closed on Monday, reports MarketWatch.
Noodles & Co isn’t slowing down on its zoolde platform either. The company recently announced that it was adding new flavors and dishes to the lineup. This includes introducing Zucchini Spicy Peanut Saute with Grilled Chicken and Zucchini Truffle Mac dishes.
“We’re redefining the noodle in our World Kitchen by providing a variety of options to ensure there’s something on our menu for everyone,” Nick Graff, Executive Chef at Noodles & Co, said in a statement. “The new zoodle dishes, which are available for a limited time, combine some of our favorite and classic flavors to excite your taste buds.
NDLS stock was up 17% as of Tuesday afternoon and is up 119% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.