UPDATE: KeyBanc Upgrades Brinker Int'l (EAT) to Overweight
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KeyBanc analyst Eric Gonzalez upgraded Brinker Int'l (NYSE: EAT) from Sector Weight to Overweight with a price target of $64.00.
The analyst comments "Chili's has proven it can out-execute the competition during COVID-19. And we believe it can continue to gain share through the crisis and capitalize on future demand with the help of a best-in-class off-premise platform, improved digital capabilities, and compelling value offerings. We also see a higher post-pandemic margin structure and evidence that Brinker’s delivery/takeout sales will remain highly incremental. We believe at ~12x CY22 EPS, EAT stock represents relative value vs. peers and its own historical valuation. We raise our FY21E/FY22E EPS to $2.44 and $4.35 and our $64 price target equates to 14.7x our FY22 EPS."
Shares of Brinker Int'l closed at $55.28 yesterday.
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