Deutsche Bank Starts Bloomin' Brands (BLMN) at Hold; Compelling Turnaround But Faces Headwindss

Deutsche Bank initiates coverage on Bloomin' Brands (NASDAQ: BLMN) with a Hold. PT $16.00.

The firm comments, "BLMN checks many of the boxes for a compelling turnaround story: tangible SSS drivers, an established cost-cutting program, accelerating unit growth, and positive free cash flow (leading to deleverage). However, we fear these business drivers may be overwhelmed by a challenging casual dining sales environment, rising beef costs and difficult compares in the near term. Hold."

For an analyst ratings summary and ratings history on Bloomin' Brands click here. For more ratings news on Bloomin' Brands click here.

Shares of Bloomin' Brands closed at $15.05 yesterday.

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