Evercore ISI Group upgrades Brinker International to Outperform, raises PT to $210.

Evercore ISI Group upgrades Brinker International to Outperform, raises PT to $210.

Evercore ISI has upgraded Brinker International to "Outperform," raising the price target to $210, according to a recent report. The upgrade comes after Brinker International, the parent company of Chili's Grill & Bar, Maggiano's Little Italy, and Just Wings franchises, reported fourth-quarter revenue that exceeded Wall Street's expectations [1].

The upgrade is a result of Brinker's consistent traffic and sales performance, as well as its guidance for fiscal year 2026 earnings per share estimates slightly above analysts' expectations. David Palmer, the analyst at Evercore ISI, lifted his price target by $20, suggesting a potential 32% upside for the stock. This follows similar upgrades by firms such as Piper Sandler and Morgan Stanley last month [1].

Palmer highlighted several factors contributing to Brinker's positive outlook. These include the company's marketing and menu strategies, which he believes will keep momentum throughout fiscal year 2026. Specific drivers mentioned are Chili's recent ribs relaunch, new skillet queso recipe, improved sides, and better frozen margaritas [1].

Brinker International's shares rose more than 2% following the upgrade, reflecting investor confidence in the company's growth prospects. Palmer noted that while the current P/E valuation is more expensive, he believes Brinker is transitioning to sustainable growth, warranting a more Darden-like valuation [1].

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