Brief: LV restaurant operator’s shares fall

Thursday, Oct. 8, 1998 | 2:23 a.m.

Shares of the New York-based upscale restaurant chain, which operates Morton's of Chicago steakhouses and Bertolini's Authentic Trattoria restaurants, fell Wednesday 6 11/16 to 13 on trading of 139,100 shares, more than 13 times the three-month daily average.

Several other analysts lowered their ratings on Morton's, largely on concern that sales will shrink as the U.S. economy slows following weakened economies in Asia and Latin America.

Customers may shift spending away from upscale chains like Morton's to more affordable choices such as Brinker International Inc.'s Chili's Grill & Bar restaurants.

In Las Vegas, Morton's has a steakhouse at Fashion Show Mall. It has Bertolini's at the Forum Shops and the Fashion Outlet of Las Vegas and is building one on West Sahara near Summerlin.

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