Brinker International (EAT)
by Zacks Equity ResearchSeptember 06, 2012 | Comments : 0 Recommended this article: (0)
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The company's strategy to focus on international expansion, in order to move away from the over-supplied domestic market and undertake cost-control measures, looks promising for its business. Brinker's financial position remains stable and management remains committed on enhancing shareholders value by both dividend and share repurchase.
The company remains on track to double its EPS and achieve margin expansion of 400 bps by 2015. Hence, we maintain an Outperform rating on the stock. Our six-month target price of $41.00 equates to about 17.5x our estimate for 2013. The target price implies an expected total return of 19.9% over that period.
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