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Fly News Breaks for September 19, 2019
DENN
Sep 19, 2019 | 07:37 EDT
As previously reported, Oppenheimer analyst Michael Tamas started coverage of Denny's with an Outperform rating and $27 price target. The analyst believes Denny's offers a compelling investment story, and sees its transformative refranchising initiative unlocking significant capital returns, elevating its free cash flow profile and improving the unit growth outlook. At the same time, fundamentals appear healthy with attractive same-store sales catalysts in place to sustain outperformance against the industry, he contends.
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