0806 ET - Brinker shares slips after KeyBanc cut its rating, saying "valuation is as full as our stomach after a Triple Dipper." Broker says the owner of Chili's -- popularizer of the dipper appetizer plate -- and other casual-dining joints has outperformed the firm's wildest bull dreams. At 23 times KeyBanc's Street-topping fiscal 2025 earnings estimates, EAT is priced to perfection. Recommends taking profits on a tripling of the stock in the last nine months while awaiting any new bull case to develop. KeyBanc analysts fess up to gorging at their local Chili's, witnessing Chief Executive Kevin Hochman's improvements, "and to say we are in awe would be an understatement." Fundamentals remain strong. "We believe Brinker is poised to deliver another quarter of industry-leading, double-digit same-store sales growth," broker says. Shares fall 1.4% to $152.40 premarket. (rob.curran@wsj.com)
(END) Dow Jones Newswires
January 24, 2025 08:06 ET (13:06 GMT)
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