UBS Raises PT and Estimates on Brinker Int'l (EAT); Sustainable Sales Warrant Higher Valuation

UBS maintains a 'Buy' on Brinker Int'l (NYSE: EAT) price target raised from $30 to $35.

Analyst, David Palmer, said, "We continue to see evidence that Brinker is executing on its plan to double its EPS from FY10 to FY14 (implying 18% annual EPS growth) as it extracts costs, markets value tiers, and invests in reimaging and new ovens. We are raising our F4Q estimate from $0.58 to $0.60 (+25% YOY) and our Chili’s F4Q SSS growth estimate from 1.5% to 2.5%."

UBS bumps FY12/13 EPS estimates by $0.02, to $1.97/2.30, respectively.

For an analyst ratings summary and ratings history on Brinker Int'l click here. For more ratings news on Brinker Int'l click here.

Shares of Brinker Int'l closed at $31.16 yesterday.

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