Loop Capital Forecasts Strong Gains for Recently Public Jersey Mike’s Subs Shares

Jersey Mike’s, a New Jersey‑based sandwich franchise, debuted on the New York Stock Exchange in late July after pricing its IPO at $23 per share. Its shares have risen roughly 14% since the offering, closing higher on Friday. Loop Capital initiated coverage with a buy rating and a $40 price target, implying about 70% upside from the prior close. The firm highlighted the company’s distinctive made‑to‑order meat‑slicing process, which it deems a key differentiator. Comparable sales have grown at an average of 6% annually over the past two decades, and Loop projects a compound annual growth rate of approximately 8.5% from 2020 to 2025. Management plans to increase digital marketing spending, allocating 20% of its advertising budget to digital channels over the next 12‑18 months, a strategy expected to sustain future growth.

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