Tower upgraded the following names:
BJ s Restaurants, Inc. (NASDAQ: BJRI) from Equal-Weight to Overweight, price target lifted from $30 to $44. The company should benefit from new product news, better marketing, consistent traffic growth, and less competitive pressures.
Darden Restaurants, Inc. (NYSE: DRI) from Equal-Weight to Overweight, price target lifted from $115 to $133. The company s decision to avoid margin dilutive delivery will impact near-term market share but will benefit long-term profit growth given improved in-store operations.
Restaurant Brands Interntional Inc (NYSE: QSR) from Equal-Weight to Overweight, price target lifted from $60 to $74. 2021 should be a rebound year while longer-term catalysts include a reacceleration of unit growth.