Bloomin’ Brands price target lowered to $18 from $20 at Citi

Citi lowered the firm’s price target on Bloomin’ Brands (BLMN) to $18 from $20 and keeps a Neutral rating on the shares ahead of the Q3 report. The firm expects the recently appointed CEO, Mike Spanos, to “strike an optimistic tone” regarding the Outback brand and its long-term potential. However, hurricane noise likely drowns out any potential immediate changes, the analyst tells investors in a research note.