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Fly News Breaks for December 9, 2019
EAT
Dec 9, 2019 | 16:42 EDT
RBC Capital analyst Christopher Carril initiated coverage of Brinker with a Sector Perform rating and $45 price target. The analyst notes that the company has recently seen improving sales with "seemingly achievable targets", but he believes that the valuation on the stock is "fair" amid limited upside to comp expectations and "relatively muted" expected unit growth. Carril adds that Brinker's margins, which had been compressed by rising labor costs and sales deleverage in recent years, may "hold some upside."
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