Brinker International rises after Stifel upgrades to buy

Brinker International

29/09/2023 15:09

** Shares of Chili's owner Brinker International  EAT.N 
rise 3% to $31.98 after Stifel upgrades stock to "buy" from
"hold"
    ** Stifel says meeting with EAT management shows positive
turnaround efforts for Chili's, mirroring successful peers like
Popeyes, Olive Garden and KFC
    ** Brokerage believes advertising will offset expected
traffic headwinds to the casual dining restaurants sector,
improve Chili's margin percentage over time
    ** Expects Chili's results to improve as co focus on brand
differentiation on popular products, shift in organizational
culture
    ** Stifel raises EAT's PT to $45 from $38, new PT represents
an upside of 44.9% to stock's last close
    ** Of the 20 analysts covering co's stock, 4 say "buy" or
higher, 14 say "hold" and 2 say "sell"; median PT stands at $38
    ** EAT down 2.7% YTD

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))