As previously reported, UBS analyst Dennis Geiger upgraded Brinker to Neutral with an unchanged price target of $39, saying that with the stock falling below that level, valuation now appears to reflect the challenges of his April initiation. The analyst notes that the company's sales are still expected to decelerate over the next few quarters, while cost headwinds should continue to weigh on earnings and margins in FY20.

Evercore ISI raised the firm's price target on Brinker to $50 from $48 and keeps an In Line rating on the shares. After a weather impaired January and February, the firm had hoped for a mid-quarter acceleration in restaurant industry same-store sales growth, but "trends remained lackluster," the analyst tells investors in a Q1 preview for the group. The firm estimates fast food industry same-store sales growth of 1.5% in Q1 and a casual dining segment same-store sales decline of 1%, noting that it recently lowered top-line forecasts for much of its coverage because of the sluggish trends lately.