Bloomin' Brands Bears The Brunt Of Softer Spending Environment, Analyst Cautions On Traffic/Margin Tensions
Portfolio Pulse from Nabaparna Bhattacharya
BMO Capital Markets analyst Andrew Strelzik reiterated the Market Perform rating on Bloomin' Brands, Inc. (NASDAQ:BLMN), lowering the price target to $24 from $25. The company reported Q3 FY23 sales growth of 2.3% YoY to $1.079 billion, missing the analyst consensus estimate of $1.085 billion. The analyst remains on the sidelines on BLMN shares due to concerns about the macro environment and potential for a softer spending environment. The analyst also mentioned Brinker International, Inc. (NYSE:EAT) and Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY) as preferred near-term opportunities in Restaurants.
November 08, 2023 | 8:18 pm
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NEGATIVE IMPACT
Bloomin' Brands, Inc. (NASDAQ:BLMN) has had its price target lowered to $24 from $25 by BMO Capital Markets analyst Andrew Strelzik. The company's Q3 FY23 sales growth missed the analyst consensus estimate.
The lowering of the price target and the missed sales growth estimate could negatively impact the stock price of Bloomin' Brands, Inc. in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Brinker International, Inc. (NYSE:EAT) was mentioned by BMO Capital Markets analyst Andrew Strelzik as a preferred near-term opportunity in Restaurants.
The positive mention by the analyst could potentially have a positive impact on the stock price of Brinker International, Inc. in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Dave & Buster's Entertainment, Inc. (NASDAQ:PLAY) was mentioned by BMO Capital Markets analyst Andrew Strelzik as a preferred near-term opportunity in Restaurants.
The positive mention by the analyst could potentially have a positive impact on the stock price of Dave & Buster's Entertainment, Inc. in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50