Barrons -- Burger King (BKC) added to a week of gains, rising 77 cents, or 4%, at $21.49, after the Miami, Florida-based company yesterday presented a rosy picture of its “product pipeline” to analysts and reiterated a forecast for earnings per share in 2009. Duetsche Bank (DB) analyst Jason West today writes in a note to shareholders that he has up’d his 2009 earnings per share forecast from $1.40 to $1.45 to reflect Burker King’s “strong sales momentum,” and what he called “an impressive array of new products.” New meals have included, of late, the “Angry Whopper,” a burger with spicy sauce and jalapeno peppers, and Burger King has recently emphasized forthcoming products such as the “Steakhouse XT,” which it says is “an extra-thick burger.” More important, Burger King may have won some customers from other establishments by not raising prices since August, said West. Some part of the optimism is around food prices remaining low, boosting Burger King’s margin. West has a “Buy” rating on Burger King shares and a $26 price target.
