Brinker International rises after Citi raises PT ahead of Q1 results

Brinker International

08/10/2024 16:06

** Shares of Chili's Grill & Bar operator Brinker
International  EAT.N  up ~2.5% at $84.56
    ** Brokerage Citi raises PT to $83 from $69 ahead of
first-quarter results on Oct. 30
    ** Cites Chili as a clear winner in its category in the
quarter, based on traffic, and gaining from menu innovation and
increased media presence
    ** Notes that data shows footfall, which was slow in the
beginning of the quarter, accelerated eventually through Q1 with
a 50 bps growth quarter-over-quarter
    ** Six of 19 brokerages rate the stock "buy" or higher, ten
"hold" and three "sell", with a median PT of $68.50
    ** Up to Monday's close, stock has risen 91% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))