California Pizza Kitchen’s Shares May Disappoint Investors

According to Reuters news service, “shares of California Pizza Kitchen Inc (CPKI.O) could disappoint investors expecting a second-half sales rebound, whereas Einstein Noah Restaurant Group Inc (BAGL.O) looks better value, Barron’s said.”

“According to the business weekly’s online edition on Sunday, shares of California Pizza Kitchen trade at 17.3 times projected 2010 earnings, compared with 12.9 times for McDonald’s Corp (MCD.N) and 13.9 times for its peers.Barron’s said that while the Los Angeles-based pizza chain delivered with its second-quarter results [ID:nN06274907], its stock has rallied more than 150 percent since last November and is ‘already counting its 2010 gains,’ the story said.”