Brinker Analysts Boost Their Forecasts Following Strong Earnings
Portfolio Pulse from Lisa Levin
Brinker International Inc (NYSE:EAT) reported Q1 revenues of $1.012 billion, slightly above the consensus of $1.010 billion. Adjusted EPS of $0.28 surpassed estimates of $0.06. The company reaffirmed its FY24 sales outlook of $4.27 billion-$4.35 billion and raised its adjusted EPS to $3.35-$3.65. Following the earnings announcement, several analysts, including those from Wedbush, Barclays, Morgan Stanley, and Raymond James, raised their price targets on Brinker.
November 02, 2023 | 5:02 pm
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Brinker International reported better-than-expected Q1 earnings and raised its adjusted EPS for FY24. Analysts from several firms raised their price targets on the company following the announcement.
Brinker's better-than-expected Q1 earnings and raised FY24 EPS forecast are positive signals that could boost investor confidence in the company. The raised price targets by several analysts further support this positive outlook, potentially leading to an increase in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100