NEW YORK (TheStreet) -- Bloomin' Brands (BLMN) shares are up 3.18% to $23.38 in early market trading on Wednesday after the Outback Steakhouse restaurant parent company had its price target raised to $23 from $21 by analysts at Jefferies.
Yesterday the company announced a 24 cent per share quarterly dividend and $100 million share buyback program at its analyst day which led to the firm's upgraded price target. However analysts at Jefferies also maintained their "hold" rating on the company's stock.
"Management is committed to maintaining share gains and still sees productivity saves, but it's hard to justify a premium valuation given the pullback in growth and we think BLMN is fairly valued," said analysts at the firm.
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TheStreet Ratings team rates BLOOMIN' BRANDS INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate BLOOMIN' BRANDS INC (BLMN) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, poor profit margins, disappointing return on equity and generally disappointing historical performance in the stock itself."