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Fly News Breaks for January 13, 2020
DIN
Jan 13, 2020 | 05:58 EDT
Deutsche Bank analyst Brian Mullan downgraded Dine Brands to Hold from Buy with an unchanged price target of $90. The analyst says the shares are within 5% of his price target following the 25% rally from the lows in early October. He views Dine Brands' risk/reward as relatively balanced at current levels. While primarily a valuation downgrade, Mullan also does not believe the next quarter to two quarters of results at Applebee's "will prove to be particularly important for how the narrative around" the company unfolds in 2020.
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