- Raymond James analyst Brian Vaccaro reiterated an Outperform rating on Brinker International Inc EAT and raised the price target to $37 from $28.50, implying a 12% upside.
- The analyst raised the price target ahead of Brinker’s Q4 earnings.
- Vaccaro said the investors will focus on the company’s FY23 guidance and new updates on sales/margin initiatives under the company’s new CEO and Chili’s CMO.
- The analyst is cautiously optimistic that sales and margins can improve driven by higher pricing and new brand/marketing strategies under the company’s new CEO/CMO.
- Price Action: EAT shares are trading higher by 0.70% at $33.08 on the last check Tuesday.
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