UPDATE: Goldman Sachs Upgrades Brinker to Buy on Solid Traffic Growth

In a note published Thursday, Goldman Sachs analyst Michael Kelter upgraded Brinker International

from Neutral to Buy and increased the price target from $37.00 to $44.00 per share. In the report, Kelter stated that "We upgrade EAT shares to Buy from Neutral with 17% upside to our new $44, 12-month price target. We see EAT as a solid all-around story and believe solid SSS may prove to be the last piece of the puzzle." Following the rating, Brinker shares remained unmoved at $37.70 in pre-market trading.