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Fly News Breaks for October 15, 2019
BLMN
Oct 15, 2019 | 08:47 EDT
Deutsche Bank analyst Brian Mullan last night downgraded Bloomin' Brands to Hold from Buy with a price target of $21, down from $23. To reflect the "lackluster" casual dining industry data throughout the Q3, the analyst lowered his blended Q3 U.S. same-store-sales estimate for Bloomin' to up 0.6% from up 1.1%, below the current consensus of up 1.2%. The analyst sees a balanced risk/reward profile at current share levels.
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