BLMN - Bloomin' Brands seen held back by near-term headwinds

BMO Capital Markets sizes up Bloomin' Brands ([[BLMN]] -2.2%) after the company's earnings topper last week."Notwithstanding a broadly bullish longer-term outlook (e.g., refreshed Outback menu, off-premise, margin expansion), the negative stock reaction signals investors were somewhat disappointed by some cautious, if understandable, near-term commentary around comps (4Q seasonality), margins (wouldn't explicitly commit to more than 200-250 basis points), and virtual brands (lack of information due to early stage)."BMO hikes its price target to $17 due to the higher comparables and margins turned in by BLMN. The PT works out to 6.5X the 2021 EBITDA estimates.A Market Perform rating is kept in place as near-term caution outweighs the favorable long-term outlook.Dig into Bloomin' Brands' Q3 numbers

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Bloomin' Brands seen held back by near-term headwinds