Brinker price target raised to $67 from $60 at Citi

Citi analyst Jon Tower raised the firm’s price target on Brinker to $67 from $60 on Friday, while keeping a Neutral rating on the shares. Chili’s was a clear traffic/category winner in the Q2 on the back of the Smashburger launch, and the firm sees upside to Street Q4 comp/EPS on the back of this strength. Much of the debate heading into results has focused on how Brinker might “spend down” flow thru and how that ultimately sets up 2025 guidance, where Citi sees the company sticking to the long-term algo.