As reported earlier, BMO Capital analyst Andrew Strelzik downgraded Bloomin' Brands to Market Perform from Outperform and lowered his price target to $21 from $28 as part of his broader casual dining sector report. The analyst says the sector's comps should start decelerating in Q4 as commodity deflation widens the gap between "food- at-home/food-away-from-home price", adding that the comps at Outback have historically the strongest relationship with changes in commodity prices. Strelzik adds that these expected trends should reduce traffic and weigh on margins, even though the company's "more limited margin expansion" should contain the downside on a relative basis.