Brinker price target raised to $33 from $29 at BofA

BofA analyst Katherine Griffin raised the firm’s price target on Brinker to $33 from $29 and keeps an Underperform rating on the shares. While the firm is raising its Q3 Chili’s same-store sales growth view to 9.3% from 8.7% to incorporate higher lift from easy January comparisons, it lowered its forecast for Q4 same-store sales growth to 4.6% from 7.7% given that the company is facing more difficult year-over-year comparisons. Its higher target reflects a higher market multiple.