Brinker price target lowered to $150 from $165 at Wells Fargo

Wells Fargo lowered the firm’s price target on Brinker (EAT) to $150 from $165 and keeps an Equal Weight rating on the shares. The firm notes the company delivered again with an impressive +28% of comparable sales and EBIT +450bps. But signs of comparable sales/margin normalization are beginning to show and shares likely take time to digest the prospects of double digits compares, ongoing investment and slower EPS growth, Wells adds.