UPDATE: KeyBanc Upgrades Brinker Int'l (EAT) to Overweight

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."

For an analyst ratings summary and ratings history on Brinker Int'l click here. For more ratings news on Brinker Int'l click here.

Shares of Brinker Int'l closed at $55.28 yesterday.

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