Benzinga | Oct 12, 2020 02:15PM EDT

Why FAT Brands Is Trading Higher Today

FAT Brands (NASDAQ:FAT) shares are trading higher on Monday after Noble Capital Markets upgraded the stock from Market Perform to Outperform and announced a price target of $8 per share.

FAT Brands is a multi-brand restaurant franchising company. It develops, markets, and acquires predominantly fast-casual restaurant concepts. The company provides turkey burgers, chicken sandwiches, chicken tenders, burgers, ribs, wrap sandwiches and others.

Its brand portfolio comprises Fatburger, Buffalo's Cafe, Buffalo's Express, Hurricane Grill & Wings, Ponderosa and Bonanza Steakhouses, Elevation Burger, and Yalla Mediterranean. It generates a majority of its revenues within the U.S.

FAT Brands shares traded up 6.6% to $5.49 on Monday at the time of publication. The stock has a 52-week high of $10.25 and a 52-week low of $1.72.