Brinker upgraded to Buy from Neutral at BofA

BofA upgraded Brinker (EAT) to Buy from Neutral with a price target of $192, up from $190. The disparity between low and high wage earnings is growing starker and is likely to persist, notes the analyst, who points out that the pressure on younger workers is also growing more acute. These recent divergences suggest that full-service restaurants are better positioned as full-service consumers have higher incomes and are older. In this context, the firm made five ratings changes among its restaurant coverage.