Outback Owner Bloomin Brands Up on Analyst Upgrades By Investing.com

© Reuters.

By Christiana Sciaudone

Investing.com —  Bloomin’ Brands (NASDAQ:) jumped 10% after Deutsche Bank (DE:) and Raymond James upgraded the stock.

Deutsche Bank said there’s a 40% upside over the next 12 to 18 months in a “relatively conservative base case,” Seeking Alpha reported. ” Analysts bumped shares to buy from hold.  

Raymond James boosted the stock to strong buy from outperform with analyst Brian Vaccaro calling the restaurant group, which operates Outback Steakhouse and other brands, an unwarranted laggard,” Seeking Alpha said. Trading multiples are very attractive. The stock is trading at a price to earnings ratio of 9.86.

Shares have 10 buy ratings, six holds and no sells, according to MarketWatch.

The stock is down almost 30% since the start of the year, but up more than 224% since March.

 

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