Jefferies upgrades Red Robin as turnaround gains momentum into 2026.

Jefferies has upgraded Red Robin Gourmet Burgers to Buy from Hold, citing signs of traffic stabilization and a low valuation heading into 2026. The broker raised its price target to $7 from $6 and expects a more targeted marketing approach to be a key upside driver. Improved cash flow has allowed Red Robin to add flexibility to its balance sheet and continue optimizing its restaurant portfolio.