Barclays has revised its expectations for Bloomin’ Brands, Inc. (BLMN, Financial), lowering its price target from $11 to $9. This adjustment comes ahead of the company's first-quarter performance preview and is accompanied by an Equal Weight rating on the stock.
In a recent analysis, Barclays highlighted the impact of adverse weather conditions at the start of the first quarter, which initially affected the restaurant group's comparable sales. Although there was a partial recovery in March, the rebound was not sufficient to offset the earlier challenges, indicating a broader trend of declining consumer spending.
The analysis pointed out that, despite restaurants being somewhat shielded from the effects of supply chain tariffs, they remain vulnerable to potential declines in consumer demand. This further underscores the cautious outlook for Bloomin’ Brands as it navigates these economic headwinds.
