Brinker upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley upgraded Brinker (EAT) to Equal Weight from Underweight with a price target of $115, up from $70. The firm says recent data suggest Brinker continues to perform very well and the upward estimate revision cycle is not done. As sales data continues to move against an Underweight rating, Morgan Stanley is “stepping aside,” acknowledging Brinker’s “impressive turnaround has legs,” the analyst tells investors in a research note. The firm says the company deserves due credit for the Chili’s turnaround.