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Fly News Breaks for May 23, 2018
RRGB
May 23, 2018 | 06:40 EDT
As previously reported, Stifel analyst Chris O'Cull downgraded Red Robin to Hold from Buy, stating that he has no reason to believe the aggressive competitive environment the company blamed for its Q1 traffic performance will change, leaving him without confidence that the company's sales performance will improve. Following the company's Q1 report, O'Cull lowered his 2018 EPS estimate to $2.60 from $2.80 and cut his price target on Red Robin shares to $55 from $75.
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