Brinker price target raised to $175 from $145 at Wells Fargo

Wells Fargo raised the firm’s price target on Brinker (EAT) to $175 from $145 and keeps an Equal Weight rating on the shares. The firm notes Brinker “smashed” Q2 with +27% comparable sales, 40%-plus incremental RLM and ongoing strength into Q3. While upside is warranted, this beat was expected, Wells argues, adding that as the bull case plays out, additional upside could be capped at about 20-turns as burden of proof shifts to sustainability.