Bloomin' Brands upgraded to Buy from Hold at Deutsche Bank Deutsche Bank upgraded Bloomin' Brands to Buy citing valuation and the company's above-average growth. The firm has a $27 price target for shares.
Bloomin' Brands sees FY15 adjusted EPS up at least 15% Consensus $1.27. For FY15, Bloomin' sees adjusted EPS growth of at least 15%, or at least 10% on a comparable calendar basis. Sees FY15 comparable sales growth for company-owned core domestic concepts of at least 1.5% with 40-50 system-wide restaurant openings. Sees FY15 commodity inflation of between 4%-6% and capital expenditures of between $235M-$255M.
Bloomin' Brands sees FY14 domestic comparable SSS up at least 1.5% Bloomin' Brands sees FY14 domestic comparable sales up at least 1.5% and new system-wide restaurant openings are expected to be 55. All other aspects of the fiscal 2014 financial outlook remain unchanged.