BMO Capital raised the firm’s price target on Brinker to $55 from $52 and keeps an Outperform rating on the shares after its Q2 earnings beat. The company’s stronger restaurant margins more than offset softer comps while its underlying Chili’s traffic increased 1.9%, representing a “milestone in a turnaround that continues to show progress”, the analyst tells investors in a research note.
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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
- Brinker reports Q2 EPS 99c, consensus 95c
- BRINKER INTERNATIONAL REPORTS SECOND QUARTER OF FISCAL 2024 RESULTS; AND UPDATES FISCAL 2024 GUIDANCE
- Notable companies reporting before tomorrow’s open
- Brinker price target raised to $43 from $37 at BofA
