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Fly News Breaks for January 17, 2017
BLMN
Jan 17, 2017 | 08:57 EDT
As previously reported, Morgan Stanley downgraded Bloomin' Brands to Underweight from Equal Weight and lowered its price target to $18 from $19. Analyst John Glass said the casual dining space is secularly challenged and Bloomin' Brands Outback restaurants have already experiencing some of the worst traffic declines in the sector as it tries to bounce back from excessive discounting. Glass expects near-term pressure to continue and said the timing of any relief is uncertain.
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