Red Robin price target lowered to $11 from $16 at Lake Street

Lake Street lowered the firm’s price target on Red Robin (RRGB) to $11 from $16 and keeps a Buy rating on the shares after the company reported Q3 results that came in mixed relative to the firm’s expectations. Although the bottom line results in Q3 were “not to our expectations,” the company noted some improvement in guest return frequency and with the company going through a comeback the firm thinks improving brand equity makes Red Robin attractive, the analyst tells investors.