Brinker International (NYSE:EAT) earned an upgrade from Stifel, which comes after the analysts conducted investor meetings with Brinker’s management team. They came away with a more optimistic view of the turnaround efforts at Chili’s, a subsidiary of Brinker International.

Stifel analysts upgraded the company from Hold to Buy and raised the price target from $38 to $45.

The analysts expressed confidence in Brinker’s strategic plan, which they believe aligns with successful restaurant turnaround strategies implemented by brands like Olive Garden, Popeyes, and KFC. They highlighted that Chili’s faces operational challenges, but there are multiple opportunities in the coming quarters to make changes that can enhance the experiences of both team members and customers.

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