UPDATE: Morgan Keegan Lowers PT on Ruby Tuesday to $10

A report from Morgan Keegan states that it has lowered the price target on Ruby Tuesday

from $13 to $10 and maintains its Outperform rating. In the report, Morgan Keegan writes, “As mngt executes plan to strengthen its core concept and utilize free cash flow and owned properties to strengthen its balance sheet and repurchase shares, we believe RT shares will improve." RT closed yesterday at $7.16.