UPDATE: Bank of America Downgrades Red Robin Gourmet Burgers on Valuation

In a report published Wednesday, Bank of America analyst Joseph T. Buckley downgraded the rating on Red Robin Gourmet Burgers (NASDAQ: RRGB ) from Neutral to Underperform, but raised the price target from $64.00 to $80.00. In the report, Bank of America noted, “We are lowering our rating on RRGB