Barclays Maintains an 'Overweight' on Brinker Intl (EAT); Management Meetings...Confidence High
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Price: $175.30 -0.56%
Rating Summary:
23 Buy, 16 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 82
Rating Summary:
23 Buy, 16 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 82
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Barclays maintains an 'Overweight' on Brinker Intl (NYSE: EAT), PT upped $1 to $27.
Barclays analyst says, "We spent a day on the road with Brinker management, and were able to compare and contrast with meetings we hosted in December. The 'recovery' seems very much intact, with confidence high. Comps have reached an inflection, which was essential in F3Q. And confidence on short and long-term margin goals has grown, even in the face of commodity headwinds. We continue to view EAT as a solid play on an improving macro, with comp underperformance easing and cost savings significant, supporting guidance to double EPS by F15, with outsized growth in F12. Excess cash is for share repurchase and dividend, with a 10%+ FCF yield, and we believe the relative valuation attractive at 14.5x vs a 5-15x 3-year range and 11.5x average." (Barclays raises FY11 EPS estimate from $1.51 to $1.55 and FY12 from $1.80 to $1.82)
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 $24.48 yesterday.
Barclays analyst says, "We spent a day on the road with Brinker management, and were able to compare and contrast with meetings we hosted in December. The 'recovery' seems very much intact, with confidence high. Comps have reached an inflection, which was essential in F3Q. And confidence on short and long-term margin goals has grown, even in the face of commodity headwinds. We continue to view EAT as a solid play on an improving macro, with comp underperformance easing and cost savings significant, supporting guidance to double EPS by F15, with outsized growth in F12. Excess cash is for share repurchase and dividend, with a 10%+ FCF yield, and we believe the relative valuation attractive at 14.5x vs a 5-15x 3-year range and 11.5x average." (Barclays raises FY11 EPS estimate from $1.51 to $1.55 and FY12 from $1.80 to $1.82)
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 $24.48 yesterday.
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