Evercore ISI Raises Invesco Price Target to $24, Maintains In-Line Rating

Evercore ISI Raises Invesco Price Target to $24, Maintains In-Line Rating

In a recent research note, Evercore ISI analyst David Palmer upgraded Brinker International's stock rating to "outperform" from "in line," raising the price target to $210. This represents a significant 32% potential upside from the current stock price, which has already seen a 20.2% gain this year [1].

The upgrade comes on the heels of Brinker International's strong fourth-quarter performance. The company, which operates Chili's Grill & Bar, Maggiano's Little Italy, and Just Wings franchises, reported revenue that exceeded Wall Street expectations. Additionally, the company's fiscal year 2026 earnings per share estimates were slightly above analysts' expectations [1].

Palmer's upgrade was driven by several factors, including Brinker's consistent traffic and sales performance. He highlighted the company's marketing and menu levers, which he believes will help maintain momentum throughout fiscal year 2026. The analyst also cited specific menu items such as the recent ribs relaunch, new skillet queso recipe, improved sides, and better frozen margaritas as drivers for growth [1].

Some other analysts have also upgraded their price targets for Brinker International following the company's strong results. Firms like Piper Sandler and Morgan Stanley have raised their targets, contributing to the overall positive sentiment surrounding the stock [1].

Despite the positive outlook, Palmer noted that the current price-to-earnings (P/E) valuation is 3 turns more expensive than the company's historical average. However, he believes that Brinker is transitioning to sustainable growth, warranting a more Darden-like valuation [1].

Shares of Brinker International rose more than 2% following the upgrade, reflecting investor confidence in the company's growth prospects [1].

References:
[1] https://www.cnbc.com/2025/09/04/chilis-parent-brinker-international-could-jump-more-than-30percent-evercore-isi-says.html