Brinker price target raised to $37 from $33 at Wedbush

Wedbush analyst Nick Setyan raised the firm’s price target on Brinker to $37 from $33 and keeps a Neutral rating on the shares. The company’s Q1 results were well above expectations driven by better-than-expected margins, and the high end of its increased guidance “looks realistic”, the analyst tells investors in a research note. The firm also notes however that the stock’s valuation discount is appropriate given limited visibility into medium-term comp and margin drivers beyond the benefit of a meaningful near-term uptick in marketing spend.