Fly News Breaks for December 12, 2019
Dec 12, 2019 | 05:08 EDT
Goldman Sachs analyst Katherine Fogertey initiated coverage of Bloomin' Brands with a Buy rating and $25 price target. Over the next several quarters, the analyst sees potential for third party delivery to help accelerate the company's underlying business in both Outback and Carrabba's. Longer term, improvements in Outback can help re-rate the multiple that trades at one of the lowest levels in the group, Fogertey tells investors in a research note.
News For BLMN From the Last 2 Days
Feb 19, 2020 | 06:51 EST
BMO Capital analyst Andrew Strelzik raised his price target on Bloomin' Brands to $23 after its Q4 results, noting that while the company missed on earnings due to weaker comps and margins, its $40M in cost savings expected over the next two years improves its medium term visibility. The analyst is keeping his Market Perform rating on the stock amid the challenging same-store sales environment and the emergence of African Swine Fever creating a risk to expectations, but he also believes that Bloomin' Brands' ongoing strategic review could lead to changes that mute the impact of industry fundamentals on its stock price.