Brinker upgraded to Buy from Hold at Stifel

Stifel analyst Chris O’Cull upgraded Brinker to Buy from Hold with a price target of $45, up from $38. The analyst came away from investor meetings with management more constructive regarding Chili’s turnaround efforts. Brinker’s plan “mirrors the strategic playbook of successful restaurant turnarounds,” such as Olive Garden, Popeyes, and KFC, the analyst tells investors in a research note. The firm says Chili’s greatest challenges are operational, with several opportunities to implement changes during the next few quarters that should improve team members’ and customers’ experiences. Stifel recommends starting to accumulate the shares at this valuation.