PLAY - Bloomin' Brands Bears The Brunt Of Softer Spending Environment Analyst Cautions On Traffic/Margin Tensions | Benzinga
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 ...