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Fly News Breaks for December 4, 2019
DENN
Dec 4, 2019 | 07:49 EDT
Maxim analyst Stephen Anderson upgraded Denny's to Buy from Hold with a price target of $26, up from $23, after its announcement of an expanded share buyback earlier this week. The analyst also raises his FY20 EPS view by 3c to 97c driven by the company's refranchising-related savings, "refi-fueled" buybacks, and increasing late-day sales. Anderson is forecasting Denny's earnings growth rate in low teens beyond FY21.
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