JPMorgan analyst John Ivankoe lowered the firm’s price target on Bloomin’ Brands (BLMN) to $9 from $10 and keeps a Neutral rating on the shares. The firm adjusted models in the restaurant and food service distribution group. JPMorgan believes the stock volatility has provided some opportunities in the sector. It would add fresh money to Dutch Bros (BROS), Starbucks (SBUX), and Cava (CAVA). Quick servicers are at “good-enough” valuations to own but heavy U.S. data and pockets of slower international unit growth may provide better buying opportunities, the analyst tells investors in a research note.
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Read More on BLMN:
- Bloomin’ Brands price target lowered to $10 from $13 at JPMorgan
- Bloomin’ Brands CEO buys $1.02M in common stock
- Bloomin’ Brands Earnings Call: Strategic Moves Amid Challenges
- Bloomin’ Brands price target lowered to $12 from $16 at BMO Capital
- Bloomin’ Brands price target lowered to $11 from $13 at Barclays
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