Red Robin price target lowered to $9 from $12 at Jefferies

Jefferies lowered the firm’s price target on Red Robin to $9 from $12 and keeps a Hold rating on the shares as the firm offered a preview and update estimates for select casual diners ahead of Q3 earnings reporting from the group. Black Box CD data shows year-over-year same-store sales trends slowed sequentially through the quarter on tougher comparisons, but traffic “appears to have held up somewhat better,” the analyst tells investors in the preview note.