Raymond James analyst Brian Vaccaro added Brinker to the firm's Analyst Current Favorites list ahead of the company's Q3 earnings report, as he believes sustained Chili's comp outperformance behind its recent launch of third-party delivery and unchanged FY20 guidance can drive valuation upside from current low levels. The analyst maintains an Outperform rating and $47 price target.

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.