Brinker Int'l (EAT) PT Lowered to $38 at Jefferies

August 25, 2022 8:05 AM EDT
Get Alerts EAT Hot Sheet
Price: $32.14 -3.05%

Rating Summary:
    11 Buy, 22 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 2 | Down: 23 | New: 24
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Jefferies analyst Alexander Slagle lowered the price target on Brinker Int'l (NYSE: EAT) to $38.00 (from $50.00) while maintaining a Buy rating following earnings.

The analyst commented, "F4Q SSS mostly inline, but margins missed & lower than expected F23 guide implies margins more challenging than expected to start F23. Co is swiftly taking action under new CEO Kevin Hochman with an evolved pricing strategy, new ops simplification actions & multiple NT sales-driving initiatives to put restaurant margins back on track. We think mgmt reset the bar more than enough, and w/ cost headwinds peaking in F1Q, path forward could surprise. Buy; PT to $38."

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