Market Overview

UPDATE: J.P. Morgan Downgrades Brinker Following Model Update

Share:
Related EAT
Simons-Founded Renaissance Technologies Buys Apple, Closes Facebook, Trims McDonald's In Q4
UPDATE: Brinker Q2 Profit Beats Estimates
This Week's Growth & Income Stock: DineEquity (DIN) - Video Blog (Zacks)

In a report published Tuesday, J.P. Morgan analyst John Ivankoe downgraded Brinker (NYSE: EAT) from Overweight to Neutral, but raised the price target from $42.00 to $45.00.

In the report, J.P. Morgan noted, “The company has a stated goal of reaching $4.00 in F17 EPS from $1.96 in F12 (mid-teens CAGR) through a combination of top-line comp-driven growth, margin expansion, and share repurchase. We see this high FCF/cash for repurchase as well as visible comp and margin drivers allowing the company to achieve this goal but believe this is nearly reflected in the stock price after performance YTD. As a result we believe a Neutral rating is now warranted.”

Brinker closed on Monday at $40.95.

Latest Ratings for EAT

DateFirmActionFromTo
Jan 2015JP MorganMaintainsOverweight
Jan 2015BarclaysMaintainsOverweight
Jan 2015WunderlichDowngradesBuyHold

View More Analyst Ratings for EAT
View the Latest Analyst Ratings

Posted-In: J.P. Morgan John IvankoeAnalyst Color Downgrades Analyst Ratings

 

Related Articles (EAT)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga PRO content