Bloomin' Brands rises after brokerages raise PT

Bloomin' Brands

17/02/2023 16:27

** Shares of restaurant chain Bloomin' Brands  BLMN.O  rise
2.6% to $27.61 
    ** At least six brokerages lifted PT on BLMN to between $28
and $33 after co forecast full-year U.S. comparable sales and
profit above Wall Street estimates
    ** Brokerage BMO Capital Markets says it is "surprised by
magnitude of strength in shares" after BLMN beat Q4 profit
estimates
    ** J.P. Morgan believes co's pricing has now largely caught
up with cost increases and therefore expects operating margins
to expand in FY24
    ** BLMN is set for its fifth straight session of rise if
current gains hold
    ** 7 of 13 brokerages rate the stock "buy" or higher and 6
"hold"; the median PT is $29 - Refinitiv
    ** BLMN up ~22% in the past 12 months
 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))