Goldman Sachs analyst Katherine Fogertey initiated coverage of Brinker International with a Buy rating and $50 price target. The analyst expects the company's traffic to accelerate from delivery. Chili's can leverage third party delivery to close the gap in its off premise business, Fogertey tells investors in a research note. Further, she notes Brinker's short interest is the most elevated in her coverage universe at 34% of active shares outstanding.

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.