Tigress Financial Partners initiated coverage of Jersey Mike’s Subs on Wednesday with a buy rating and a $29 price target, underscoring the sandwich chain’s high-margin franchise model and growth potential.
The firm joins Guggenheim, BTIG and Raymond James, which also assigned buy ratings, while Goldman Sachs and Wells Fargo maintained neutral ratings. The stock last traded at $22.41, implying a potential 29% upside to Tigress’s target. Guggenheim set a $28 target, BTIG a $28 target, Raymond James a $29 target, Goldman Sachs a $26 target and Wells Fargo a $25 target.
Jersey Mike’s operates 3,300 units in the United States and is expanding internationally, with Founder Peter Cancro leading European development. Analysts highlighted the chain’s asset-light business model, substantial domestic whitespace and attractive franchisee economics as key strengths. InvestingPro cited a gross profit margin of 66%, reinforcing the company’s capital efficiency.
Wells Fargo estimated a 2027 enterprise value-to-EBITDA multiple of 20 times based on the firm’s projections, reflecting expectations for sustained earnings growth. The coverage comes as Jersey Mike’s reported first-quarter 2026 results, though the article did not disclose specific financial figures from the period.
