Brinker International Playbook For Chili's 'Mirrors' Olive Garden, Popeyes, KFC: Analyst
Portfolio Pulse from Priya Nigam
Brinker International, Inc. (NYSE:EAT) shares rose in early trading on Friday following an upgrade from Stifel analyst Chris O'Cull. The analyst upgraded the rating from Hold to Buy and raised the price target from $38 to $45. The upgrade was based on the company's progress with Chili's turnaround efforts, which mirror successful strategies used by Olive Garden, Popeyes, and KFC. Despite a challenging consumer backdrop, Brinker International has potential for earnings upside and multiple expansion over the next 2-3 years.
September 29, 2023 | 4:20 pm
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Brinker International's stock rose following an upgrade from Stifel analyst Chris O'Cull. The company's progress with Chili's turnaround efforts, mirroring successful strategies used by other restaurants, and potential for earnings upside and multiple expansion over the next 2-3 years were cited as reasons for the upgrade.
The upgrade from Stifel analyst Chris O'Cull, who raised the rating from Hold to Buy and increased the price target from $38 to $45, is a positive signal for investors. The analyst's confidence in the company's turnaround efforts for Chili's and potential for earnings upside and multiple expansion over the next 2-3 years could drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100