UPDATE: Raymond James Upgrades Bloomin' Brands, Inc. to Strong Buy

In a research note released Monday at Raymond James, Bloomin' Brands, Inc.

was upgraded from Outperform to Strong Buy while it's $26.00 was left unchanged. The firm's Bryan Elliott said, "Bloomin' Brands, Inc. recent pullback has, created a compelling risk/reward ratio" and a potential buying opportunity. Elliott noted Bloomin' Brands has been producing comp sales and margin expansion above most peers. BLMN shares are trading up nearly 1.5 percent to $23.06.