J.P. Morgan upgrades Bloomin' Brands to 'neutral'; shares gain

** Outback Steakhouse chain owner Bloomin' Brands' BLMN.O shares gain 6.2% to $8.40

** J.P. Morgan raises to "neutral" from "underweight"; hikes PT to $13 from $6, implying an upside of 64.3% to stock's last close

** Brokerage says manager compensation is now "objective and consistent" vs too many situational exceptions being made previously

** "Casual dining said to be "in a good place" as consumers once again seek in-person connected experiences," J.P. Morgan says

** Two of 11 brokerages rate stock "buy" or higher, 8 "hold" and 1 "sell"; their median PT is $12 -LSEG-compiled data

** Including session's moves, shares up 35.8% YTD