El Pollo Loco Holdings Inc. was downgraded to neutral from buy at SunTrust Robinson Humphrey on concerns that the chicken chain will have problems luring back value-oriented customers in a promotional environment. The price target is $15. Bank analysts also believe the company is facing long-term margin headwinds due to the minimum wage increase in California. "These factors, along with missed 2015 growth targets limits our long-term unit growth estimates to 6% to 7%, below management's 8% to 10% target," SunTrust wrote in a Wednesday note. "Our downgrade is not just based on first-quarter results [due May 5], but we expect a $0.01 miss." El Pollo Loco shares are inactive in premarket trading, and down 47% for the past year. The S&P 500 is down 0.8% for the last 12 months.
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