Barclays Maintains an 'Overweight' on Brinker Intl (EAT); 3QF11 Upside...F12 Growth To Accelerate
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Price: $246.06 +5.56%
Rating Summary:
22 Buy, 17 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
22 Buy, 17 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Overweight' on Brinker Intl (NYSE: EAT), PT increased from $27 to $31.
Barclays analyst says, "3QF11 results were strong, with top- & bottom-line growth ahead of the Street, despite expectations on the rise. As for F11, EPS growth likely to exceed Brinker's prior 10-20% guidance, though 4QF11 expectations were moderated which tempered enthusiasm in the shares today. More importantly, the long-term goal to double EPS by F15 is intact, with management still comfortable with the implication for acceleration of EPS growth in F12 despite outsized 25%+ growth in F11. We continue to view Brinker as a play on an improving macro-consumer environment, with sales building initiatives seeing early signs of traction, cost saving initiatives further enhancing margins, & aggressive share repurchase as the best use of significant free cash. We believe valuation remains attractive, currently at 14x versus the 5-15x 3-year range and 12x average."
For more ratings news on Brinker Intl click here and for the rating history of Brinker Intl click here.
Shares of Brinker Intl closed at $24.24 yesterday.
Barclays analyst says, "3QF11 results were strong, with top- & bottom-line growth ahead of the Street, despite expectations on the rise. As for F11, EPS growth likely to exceed Brinker's prior 10-20% guidance, though 4QF11 expectations were moderated which tempered enthusiasm in the shares today. More importantly, the long-term goal to double EPS by F15 is intact, with management still comfortable with the implication for acceleration of EPS growth in F12 despite outsized 25%+ growth in F11. We continue to view Brinker as a play on an improving macro-consumer environment, with sales building initiatives seeing early signs of traction, cost saving initiatives further enhancing margins, & aggressive share repurchase as the best use of significant free cash. We believe valuation remains attractive, currently at 14x versus the 5-15x 3-year range and 12x average."
For more ratings news on Brinker Intl click here and for the rating history of Brinker Intl click here.
Shares of Brinker Intl closed at $24.24 yesterday.
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