Freedom Capital initiated coverage of Bloomin’ Brands (BLMN) with a Buy rating and $10 price target The firm believes that the company is in the early innings of an Outback-led turnaround under new leadership, the analyst tells investors in a research note. Given sales initiatives that include “steak quality, service model improvements and remodels”, along with early evidence of improving top-line trends, Freedom sees a path to sustained SSS growth and margin recovery for Bloomin’ Brands.
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