Red Robin Gourmet Burgers shares surge 11.94% premarket after Jefferies upgrades to 'Buy' with $7 price target.

Red Robin Gourmet Burgers (RRGB) surged 11.94% in premarket trading following Jefferies' upgrade of the stock to 'Buy' from 'Hold,' accompanied by a raised price target of $7.00, a 16.67% increase from the prior $6.00. The analyst's revised outlook, emphasizing improved market dynamics for the company through 2025, directly aligns with the sharp premarket rally. While broader analyst sentiment remains bullish—with a mean price target of $11.25—the Jefferies upgrade served as the immediate catalyst, signaling renewed confidence in RRGB's strategic positioning. Unrelated developments, such as Unity Software's earnings report, had no bearing on the stock's movement.