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Fly News Breaks for August 14, 2019
EAT
Aug 14, 2019 | 06:19 EDT
Stephens analyst Will Slabaugh believes Brinker International's share setup is becoming more attractive following yesterday's post-earnings selloff. The negative stock reaction points to skepticism that the company's two-year same-store-sales trends will accelerate to hit the guidance, Slabaugh tells investors in a research note. The analyst, however, believes Brinker has posted consistent SSS and traffic outperformance along with an "increasingly good handle" on costs. He awaits additional commentary on the company's fiscal 2020 plans at Thursday's investor day and keeps an Equal Weight rating on the shares with a $45 price target.
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