Bloomin' Brands Is A Long-Term Survivor, But Has Near-Term Challenges: Analyst

J.P. Morgan analyst John Ivankoe cut the price forecast for Bloomin’ Brands, Inc. BLMN from $13.00 to$10.00 while retaining a Neutral rating.The analyst says that the transition of the previously owned Brazil business to a royalty-based, capital-light model, combined with reduced capital expenditure for new units and strong liquidity, positions the brand and company for long-term success. Meanwhile, the analyst says that near-term challenges remain.Ivankoe says the company has relied too heavily on strateg ...