Saturday, May 18, 2024

Bloomin' Brands Bears The Brunt Of Softer Spending Environment, Analyst Cautions On Traffic/Margin Tensions

Bloomin' Brands Bears The Brunt Of Softer Spending Environment, Analyst Cautions On Traffic/Margin Tensions


BMO Capital Markets analyst Andrew Strelzik reiterated the Market Perform rating on Bloomin' Brands, Inc. (NASDAQ: BLMN), lowering the price target to $24 from $25.

The company reported third-quarter FY23 sales growth of 2.3% year-on-year to $1.079 billion, missing the analyst consensus estimate of $1.085 billion.

According to the analyst, valuation looks undemanding and margin management has been reliable. 

That said, the analyst highlights comp risk from the macro environment and ...

Full story available on Benzinga.com

Disclaimer: The views, recommendations, and opinions expressed in this content belong solely to the third-party experts. This site was not involved in the writing and production of this article.


Disclaimer Press Release Banner