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Fly News Breaks for April 26, 2017
EAT
Apr 26, 2017 | 08:18 EDT
Maxim analyst Stephen Anderson said he believes the largest reason for a post-earnings pullback in Brinker shares despite the company's better than expected results was the reliance on menu price increases. However, he expects a smaller menu to help reduce operating costs in the next few quarters and still expects the company to return to sustained 10%-15% EPS growth by FY18, making him view the weakness as a buying opportunity. Anderson, who also sees Brinker as a potential private equity takeout candidate, keeps a Buy rating and $54 price target on the stock.
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