Raymond James backs off on restaurants

Raymond James downgrades a number of restaurateurs to Outperform from Strong Buy, citing valuation and a continued weak demand environment.

Restaurants on the receiving end: Carrol's (TAST -1.1%), Del Frisco's (DFRG -2.2%), Red Robin (RRGB -0.5%), Fiesta (FRGI -0.9%), and Buffalo Wild Wings (BWLD +2.2%)

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