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Fly News Breaks for September 26, 2018
BJRI, TXRH, DRI
Sep 26, 2018 | 08:25 EDT
Following a "flurry of sell-side downgrades in recent weeks" of casual dining stocks, Stifel analyst Chris O'Cull said he believes the Q4 same-restaurant sales comparisons may not be as difficult as feared and that the strong response to Olive Garden's (DRI) higher-priced promotional entree offerings during August is evidence that consumers are willing to spend more at restaurants. O'Cull would look to add to positions in Darden, Texas Roadhouse (TXRH), and BJ's Restaurants (BJRI) following their recent pullbacks, he tells investors. The analyst keeps Buy ratings on all three stocks mentioned.