RBC Capital raised the firm’s price target on Brinker to $46 from $43 and keeps a Sector Perform rating on the shares. The company reported a “better than feared” Q2, even as Chili’s comps came in slightly below Street expectations, the analyst tells investors in a research note. Margins were a key positive for the quarter and potentially could help deliver ongoing upside in the second half of FY24, the firm added.
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Read More on EAT:
- Brinker raises FY24 EPS view to $3.45-$3.70 from $3.35-$3.65, consensus $3.54
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- Brinker price target raised to $43 from $37 at BofA