Bloomin’ Brands price target lowered to $22 from $30 at Barclays

Barclays lowered the firm’s price target on Bloomin’ Brands to $22 from $30 and keeps an Overweight rating on the shares. The company’s Q2 comp, restaurant margin and adjusted earnings were below expectations, the analyst tells investors in a research note. The firm says that while Bloomin’s near-term fundamentals are challenged, it finds the stock’s valuation compelling.