On September 10, 2025, Jeremy Hamblin from Craig-Hallum set a price target of $17.12 for Potbelly Corporation (NASDAQ:PBPB). At that time, the stock was priced at $16.98, indicating a slight difference of about 0.82% from the target. Potbelly, a well-known sandwich chain, is currently in the spotlight due to its acquisition by RaceTrac, a major convenience store chain. RaceTrac's acquisition of Potbelly is valued at $566 million and is structured as an all-cash transaction. This move marks RaceTrac's entry into the restaurant industry, expanding its portfolio into the food service sector. The acquisition aligns with the trend of convenience store chains diversifying their offerings to include more food and beverage options, as highlighted by Fast Company.
Potbelly, based in Chicago, operates over 445 stores across the United States, including franchised locations. The company aims to expand to 2,000 stores. Following the acquisition announcement, Potbelly's stock surged by over 30%, reflecting investor optimism. The deal values Potbelly shares at $17.12 each, aligning with Hamblin's price target.
Currently, PBPB is priced at $16.98, showing a significant increase of 31.32% with a change of $4.05. The stock has fluctuated between $16.98 and $17.04 today, marking its highest price over the past year. The lowest price for the year was $7.27. Potbelly's market capitalization stands at approximately $513.83 million, with a trading volume of 19,241,519 shares on the NASDAQ exchange.
