Morgan Stanley analyst Brian Harbour maintains $Brinker International (EAT.US)$ with a sell rating, and adjusts the target price from $50 to $65.
According to TipRanks data, the analyst has a success rate of 56.8% and a total average return of 1.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Brinker International (EAT.US)$'s main analysts recently are as follows:
In the context of a Q3 earnings preview for the restaurant group, it's noted that comparable sales softened at the onset of Q3 but eventually steadied, albeit at diminished levels. It's observed that while all segments are susceptible to the pressures faced by lower-income consumers, the effectiveness of the value campaigns in the quick service sector stands out. Additionally, there are indications that inflation and pricing pressures are beginning to subside.
As Q3 earnings reports for the restaurant industry commence in earnest, discussions have primarily focused on aligning expectations and preparations ahead of the disclosures. The rationale behind increased market multiples has informed revised expectations for companies like McDonald's and Brinker.
The previous perspective on Brinker's performance has been acknowledged as erroneous, with expectations set for further positive revisions in the wake of upcoming quarterly results.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
