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Fly News Breaks for May 24, 2019
EAT
May 24, 2019 | 06:15 EDT
Stifel analyst Chris O'Cull attributes the 6% selloff yesterday in shares of Brinker International to concerns about the potential for rising protein prices related to the African Swine Fever breakout in Asia. The analyst, while acknowledging protein prices are likely to rise for the restaurant industry, believes the recent pullback in Brinker reflects an overly cautious view of the African Swine Fever's impact on margins. The company's commodity hedges limit exposure for several quarters, says O'Cull, who keeps a Buy rating on the shares with a $57 price target.