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Fly News Breaks for November 2, 2016
DIN
Nov 2, 2016 | 09:06 EDT
Maxim analyst Stephen Anderson noted that DineEquity did not add to what has been said in prepared comments in the past two years in terms of M&A, though in talks after the call management acknowledged valuations in the fast casual segment have become "more reasonable" in the past three to six months. Anderson continues to think the company will target the "better-for-you" fast casual sub-segment for a potential acquisition and believes DineEquity shares are attractive with valuation multiples near cyclical lows. He keeps a Buy rating and $94 price target on the stock.
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