BUZZ - JPMorgan upgrades Bloomin' Brands rating to "Neutral"; stock price rises

September 29 - ** Outback Steakhouse chain owner Bloomin' Brands BLMN.O shares rose 6.2% to $8.40

** JPMorgan raised its rating from "Underweight" to "Neutral"; target price raised from $6 to $13, representing 64.3% upside from the latest closing price

** The brokerage said that management compensation is now “objective and consistent,” whereas previously there were too many situational exceptions

** “With consumers once again seeking in-person social experiences, the casual dining sector is said to be ‘in a good place’,” JPMorgan said

** Of 11 brokerages, 2 rate it "Buy" or higher, 8 rate it "Hold", and 1 rates it "Sell"; median target price is $12 — LSEG compiled data

** Including the day's movement, the stock is up 35.8% year-to-date

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