JPMorgan downgraded Bloomin’ Brands (BLMN) to Underweight from Neutral with an unchanged price target of $6. The firm sees “more compelling” upside elsewhere in the sector. Years of elevated menu pricing versus peers and non-customer oriented costs have made the new CEO’s job a “highly difficult one,” the analyst tells investors in a research note. JPMorgan believes reinstating value at Roadhouse will be challenging.
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Read More on BLMN:
- S&P 600 adding fifteen companies at open on 3/23
- Bloomin’ Brands price target lowered to $6 from $7 at Goldman Sachs
- Bloomin’ Brands price target raised to $7 from $6.75 at Citi
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