UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Bloomin' Brands
In a report published Friday, Jefferies & Company reiterated its Buy rating on Bloomin' Brands (NASDAQ: BLMN), and slightly raised its price target from $17.50 to $18.00.
Jefferies noted, “Stock strong after EPS beat and raise. We came away from the CC with increased confidence in BLMN's ability to drive 3% SSS next year & offset 10-12% beef infl, despite the tough macro. The core brands are taking share, and we think a ramp toward MSD unit growth & near-20% EPS growth are rare in casual dining. Our ‘12/13 EPS tweaked for deal/interest expense & the beat to $0.97/$1.14 (fr.$0.90/1.10). PT $18 (fr. $17.50).”
Bloomin' Brands closed on Thursday at $13.73.
Latest Ratings for BLMN
|Feb 2017||Credit Suisse||Downgrades||Outperform||Neutral|
|Feb 2017||JP Morgan||Downgrades||Overweight||Neutral|
|Jan 2017||Goldman Sachs||Downgrades||Buy||Neutral|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.