Brinker International's (EAT) upcoming investor day in September is expected to highlight further positive developments for its Chili's business, Morgan Stanley analysts said in a Wednesday note.

The analysts said Chili's "Big Crispy" chicken sandwich appears to be the clearest driver of sales, with volume trends accelerating in July and August.

Morgan Stanley raised its same-store sales growth forecast for Chili's to 7.7% from 4.2% for fiscal Q1, and to 5.4% from 4.5% for the fiscal year.

Brinker's acquisition of 12 franchised stores is expected to close later this month and contribute $30 million of incremental revenue but will likely have little net impact on the company's earnings per share, the analysts said.

Morgan Stanley maintained an overweight rating on the stock and increased its price target to $250 from $207.

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