Goldman Sachs analyst Christine Cho upgraded Bloomin’ Brands (BLMN) to Neutral from Sell with a price target of $7, up from $6.50. While the firm acknowledges that Bloomin’s turnaround is still in the early stages, it is “encouraged” by the detailed strategy that management outlined for Outback and believes the current share price now offers a balanced risk/reward following year-to-date underperformance and the increased visibility into the Outback turnaround.
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