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Fly News Breaks for September 27, 2019
DENN
Sep 27, 2019 | 07:27 EDT
As previously reported, MKM Partners analyst Brett Levy initiated Denny's with a Neutral rating and a price target of $25. The analyst cites the company's improvement as a restaurant with better in-store operations and service as well as "structurally" through "greater convenience of offerings from its off-premise platform", helping it become a more consistent cash flow story. Levy adds that the decision to reduce the company-ownership position may lead to accelerated revenue growth with a "slightly higher royalty rate applied".
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