Brinker price target raised to $90 from $62 at Stifel

Stifel analyst Chris O’Cull raised the firm’s price target on Brinker to $90 from $62 and keeps a Buy rating on the shares. Chili’s revamped marketing efforts signal a transformation that the firm believes can deliver durable same-restaurant sales gains of low-to-mid-single digit percentage, on average, the analyst tells investors. The firm, which notes that its recent meeting with management increased its confidence that “there are several opportunities for a talented advertising team to make the most of it,” additionally sees opportunities to augment the momentum at Chili’s with better sales and margin performance at Maggiano’s.