Guggenheim Upgrades Bloomin' Brands (BLMN) to Buy

Guggenheim analyst Matthew DiFrisco upgraded Bloomin' Brands (NASDAQ: BLMN) from Neutral to Buy with a price target of $25.00.

The analyst comments "Following consecutive quarters of improving margins and FCF generation, we see Bloomin' in the early innings of a turnaround. In our opinion, sentiment remains low after management maintained guidance despite the 1Q19 beat. We recognize the ongoing sales drivers, buyback/marketing dry powder, and margin opportunities, all of which outweigh the recent commodity concerns. A SOTP analysis (potential concept unwind) and the improving International profile leave greater upside to our outlook."

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 $18.23 yesterday.

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