Piper Sandler raised the firm’s price target on Brinker (EAT) to $97 from $62 and keeps a Neutral rating on the shares following quarterly results. The firm notes the headline was another remarkably strong result at Chili’s, with same-store sales of +14.1% comparing very favorably to consensus of +10.5%. The strong top-line was also accompanied by solid flow-through of about 38%, resulting in RLMs that were +305 bps year-over-year and 140 bps ahead of consensus.
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