Brinker International Restarted as an “Outperform” at Wells Fargo (EAT)

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Full-service restaurant operator Brinker International, Inc. ( EAT ) on Friday saw its coverage re-initiated with an "Outperform" rating by analysts at Wells Fargo.

The firm also set a $37-40 price target range on EAT, suggesting up to a 27% upside to the stock's Thursday closing price of $31.41.

A Wells Fargo analyst commented, "We expect to see multiple expansion in the coming quarters as Brinker is one of the few restaurant companies poised to maintain same-store sales ( SSS ) momentum and deliver margin expansion over the balance of 2012 heading into 2013."

Brinker International shares were mostly flat in premarket trading Friday.

The Bottom Line
Shares of Brinker International ( EAT ) have a 2.04% dividend yield, based on last night's closing stock price of $31.41. The stock has technical support in the $28 price area. If the shares can firm up, we see overhead resistance around the $34 price level.

Brinker International, Inc. ( EAT ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: EAT , SSS

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