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Fly News Breaks for January 19, 2018
BLMN
Jan 19, 2018 | 07:19 EDT
Goldman analyst Karen Holthouse downgraded Bloomin' Brands to Sell from Neutral and lowered its price target to $17 from $18.25. Holthouse's survey work that indicates investments in service, food quality, and/or remodels is not translating into improved customer perceptions, with increased risk that cyclical demand tailwinds will not offset share losses. The analyst said shares are trading near peak historical levels versus peers and said "thin pre-tax margins" put the company at risk of estimate volatility around investment.
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