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Fly News Breaks for July 23, 2019
BLMN
Jul 23, 2019 | 08:11 EDT
As previously reported, Loop Capital analyst Lynne Collier initiated Bloomin' Brands with a Buy rating and $22 price target. The analyst notes that there is a "disconnect" between the company's fundamentals and its valuation, making risk-reward compelling at a near-trough multiple of 6.3-times expected next-12-month EBITDA. Collier adds that Bloomin' Brands should be able to outperform the industry on comps, particularly in its "flagship" Outback brand.
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