Citigroup Begins Coverage of Brinker (EAT)
Citigroup announced on Thursday that they have initiated coverage of restaurant franchise operator, Brinker International, Inc.(EAT).
The firm reported that they have begun coverage of EAT with a “Buy” rating, and a $38 price target. This price target suggests an 18% increase over the stock’s current price of $30.92.
Analysts believe that since short term pressures are already known, the company will have opportunities for growth.
Brinker shares were up 27 cents, or 0.88% during Thursday morning trading. The stock is up 15.5% YTD.
The Bottom Line
Shares of Brinker International (EAT) have a 2.60% dividend yield, based on last night’s closing stock price of $30.77. The stock has technical support in the $28 price area. If the shares can firm up, we see overhead resistance around the $32-$34 price levels.
Brinker International, Inc.(EAT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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