Fly News Breaks for April 26, 2019
Apr 26, 2019 | 07:02 EDT
UBS analyst Dennis Geiger initiated Brinker with a Sell rating and a price target of $39, citing his concerns over the "sustainability of improved deal-driven traffic and sales trends" at Chili's and their headwinds on margins pressuring earnings. The analyst warns about risk to the recent comps strength and believes that after a strong Q3 result, comps will "decelerate over time" on tougher compares and lapped promotional initiatives. Geiger expects Brinker to generate low-single-digit revenue and low-to-mid- single digit earnings growth over the next 3 years.
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