RBC Capital Cuts Price Target on Brinker International (EAT) to $54; Reiterates Sector Perform
RBC Capital maintained a Sector Perform rating on Brinker International (NYSE: EAT), and cut the price target to $54.00 (from $55.00), following the company's 1Q earnings report. RBC cut F17 and FY18 EPS estimates from $3.44 and $3.86 to $3.38 and $3.81, respectively, based on slowing SSS trends and unclear visibility into future sales drivers.
Analyst David Palmer commented, "Following F1Q17 earnings, we are lowering our price target and further trimming our SSS and EPS estimates. While the fiscal year started slowly, we will be watching to see if Chili's initiatives bolster sales trends against easing comparisons."
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 $49.49 yesterday.