Chili's Stock Heats Up as Brinker International Receives Upgrade

Brinker International's stock rose by 4% as of 11:29 a.m. ET after Northcoast upgraded its rating to 'buy' from 'neutral' with a price target of $275.

The upgrade comes as Chili's, the casual dining chain owned by Brinker, has been executing effectively and has a solid plan for steady growth over the next few years.

Northcoast analyst Jim Sanderson cited strong growth at Chili's and the company's well-positioned long-term growth under new management as reasons for the upgrade.

Chili's has been one of the top-performing restaurant stocks, taking market share from fast-food options like McDonald's through savvy ad campaigns and menu improvements.