Bloomin’ Brands downgraded to Equal Weight from Overweight at Barclays

Barclays analyst Jeffrey Bernstein downgraded Bloomin’ Brands (BLMN) to Equal Weight from Overweight with a price target of $13, down from $19. The firm expects the company to guide comp growth in the very low single-digit range for 2025, saying it is at risk of another negative year, while unit growth is expected to remain flattish. This will supports low-single-digit revenue growth at best, the analyst tells investors in a research note. With large comp headwinds, unit growth lacking, and limited earnings leverage, the shares will continue to underperform in 2025, contends Barclays.