Argus upgraded Brinker to Buy from Hold with a $72 price target. The company’s new CEO has raised menu prices and scaled back discounting and promotions, while Brinker has also simplified operational processes, revamped its menu, and improved employee retention, the analyst tells investors in a research note. Early results indicate that revenue and margins are headed in the right direction, and Brinker’s earnings growth is expected to accelerate to a double-digit rate over the next three years, the firm added.
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