UPDATE: Tigress Downgrades Bloomin' Brands

In a report released Thursday, Tigress analyst Ivan Feinseth downgraded Bloomin' Brands BLMN from Buy to Neutral.

Analysts at Tigress noted a decrease in foot traffic at domestic Outback Steakhouses, along with a heavy 20 percent decrease in the company's Korean geographic. Bloomin' Brands present optimism in opportunities to come in Brazil and China, but it's too early in the demographic release to develop a consistent trend in performance.