Jersey Mike's rises as brokerages launch coverage with bullish views

Morgan Stanley said, "With more than 3,300 U.S. locations, co still has room to densify its footprint, while international markets remain an upside opportunity, providing visibility into sustainable high single-digit unit growth in the medium term."

RBC said JKME's same-store sales growth is more resilient than peers, and strong franchisee returns support significant scope for further U.S. unit expansion.

Following are some of the ratings and PTs on the stock:

• Shares of sandwich chain Jersey Mike's Subs JMKE.N rise 1.13% at $24.13 premarket
• At least four brokerages initiate coverage with largely bullish calls as post-IPO research quiet period ends
• IPO generated approximately $1 billion in proceeds after pricing at $23 per share, the midpoint of its marketed range
• Morgan Stanley, Jefferies, J.P. Morgan, Barclays and Guggenheim were joint book-running managers for the offering