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Brinker was bought in the Hedgeye Virtual Portfolio this afternoon.

Keith just bought Brinker in the Virtual Portfolio as the quantitative setup, per his model, is favorable at current levels.  The chart below illustrates our TRADE and TREND levels for the stock. 

From a fundamental perspective, as we wrote in our note titled “EAT – CAN THEY EXECUTE?” on 10/27, we believe that the company is operating well and will continue to improve going forward.  At Chili’s, the remodeling program, kitchen retrofits and other initiatives are going to boost sales and customer satisfaction.  As our note from last Thursday highlighted, we believe that the skepticism among the sell-side community is misguided and would not interpret this negative sentiment as being anything other than a positive for a buyer of the stock.  Please refer to our note from Thursday for further details or reply to this email for a copy.

This stock has been one of our favorite names for some time and is one of our top three long picks in the space.

EAT: TRADE UPDATE - eat levels 1031

Howard Penney

Managing Director

Rory Green

Analyst