Bloomin' Brands (NASDAQ: BLMN) received a number of price target changes and ratings updates during the last week:

  • Bloomin' Brands is now covered by analysts at Raymond James. They set an “outperform” rating on the stock.
  • Bloomin' Brands is now covered by analysts at Wells Fargo & Co.. They set an “outperform” rating on the stock.
  • Bloomin' Brands is now covered by analysts at JPMorgan Chase. They set an “overweight” rating and a $18.00 price target on the stock. They wrote, “We are initiating coverage of Bloomin’ Brands with an Overweight rating and $18 Dec-13 price target. Company specific comp drivers, relatively low risk unit growth opportunity, and identified cost savings help offset industry wide cost pressures. Much of the current strategy is about transition to systems-driven decision making and more efficient cross-brand management driving future growth. This allows toleration of high operating and financial leverage as sales, cost, and FCF achievability appear visible.”
  • Bloomin' Brands is now covered by analysts at Jefferies Group. They set a “buy” rating and a $17.50 price target on the stock. They wrote, “We believe that with a “brand management” philosophy, the current BLMN senior management team has established drivers at Outback and the other brands to consistently drive SSS outperformance. We would look for +3% SSS annually going forward driven by price and traffic growth from remodels, daypart expansion (lunch and brunch), better operating performance (blocking and tackling) and significantly improved value and variety through product innovation, promotion and marketing.”
  • Bloomin' Brands is now covered by analysts at Goldman Sachs. They set a “buy” rating and a $17.00 price target on the stock. They wrote, “We initiate coverage of BLMN with a Buy rating and a 12-month, $17 price target (18% upside). (1) We see BLMN as a being at the ‘fountain of youth’ phase of its life cycle with Outback International, Bonefish Grill, and Carrabba’s driving a renewed leg of growth. (2) BLMN’s brands are strong and have outperformed the industry with 4% SSS over the past 10 quarters vs. 1% for the industry. (3) Margins have expanded by 400 bp since their 2008 trough and we expect additional gains over the next 12-24 months. (4) FCF generation is strong and may lead to future dividend or repurchase announcements. (5) Shares are inexpensive relative to peers.”
  • Bloomin' Brands is now covered by analysts at Bank of America. They set a “buy” rating and a $18.00 price target on the stock. They wrote, “We are initiating coverage of Bloomin’ Brands (BLMN) with a Buy rating and an $18 price objective. BLMN shares began trading on August 8th following an initial public offering (IPO) at $11 per share. The shares are trading at a modest discount to its casual dining peers despite what we expect to be well above average earnings growth for the next several years. Our price objective for BLMN shares is $18, derived by applying a roughly 18x P/E multiple on our 2013 EPS estimate, as we expect valuation to evolve to a 20% premium driven by projected earnings growth in excess of 20%.”
  • Bloomin' Brands is now covered by analysts at Barclays Capital. They set an “overweight” rating on the stock.
  • Bloomin' Brands is now covered by analysts at Morgan Stanley. They set an “overweight” rating on the stock.
  • Bloomin' Brands is now covered by analysts at Williams Capital. They set a “buy” rating on the stock.
  • Bloomin' Brands is now covered by analysts at William Blair. They set an “outperform” rating on the stock.
  • Bloomin' Brands is now covered by analysts at Deutsche Bank. They set a “hold” rating and a $16.00 price target on the stock. They wrote, “BLMN checks many of the boxes for a compelling turnaround story: tangible SSS drivers, an established cost-cutting program, accelerating unit growth, and positive free cash flow (leading to deleverage). However, we fear these business drivers may be overwhelmed by a challenging casual dining sales environment, rising beef costs and difficult compares in the near term.”

Bloomin' Brands Inc opened at 15.75 on Tuesday. Bloomin' Brands Inc has a 1-year low of $11.57 and a 1-year high of $16.24. The company has a market cap of $1.888 billion and a price-to-earnings ratio of 17.34.

Bloomin’ Brands, Inc. is a holding company. It is a casual dining restaurant company with a portfolio of restaurant concepts.