In case you missed it: the latest on JMBA

Last week, Jamba Juice announced the acquisition of ten franchise stores in central California. The move seems to be very consistent with their stated strategic goals for 2007. Although the acquisition is relatively small, among the stores purchased is the original Jamba Juice location, opened in 1990 in San Luis Obispo, California. For the full press release: http://www.jambajuice.com/mediacenter/franchises0423.html

Also last week, Capital Growth Financial - one of the few analysts covering JMBA - reiterated their buy recommendation. In their latest report, CGF raised the revenue model but lowered their margin and EPS expectations, thus lowering their 12 month price target to US$13.50 from US$15. CGF also pointed out their concern that for the reported 12 week period JMBA lost US$0.17 per share, compared to a loss of US$0.12 when the company was private.

As of the most recent Bloomberg data, JMBA is covered by 4 institutions, and all have a buy rating on the shares. They are as follows: Capital Growth Financial - Buy (TP: $13.5); Oppenheimer - Buy (TP: $11.0); Wedbush Morgan - Buy (TP: $13.0); Rochdale Securities - Buy (TP: $16.0)