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Fly News Breaks for December 20, 2019
Dec 20, 2019 | 06:14 EDT
Guggenheim analyst Matthew DiFrisco upgraded Dunkin' Brands to Buy from Neutral with an $83 price target. The analyst sees the company's U.S. same-restaurant-sales approaching 3% in Q4, its highest level in six years, and remaining above 2% through 2020. Further, management will detail a multi-year remodel campaign, featuring the key elements of the NextGen store format, which should be a "meaningful" sales catalyst for the years ahead, DiFrisco tells investors in a research note. The analyst also sees "limited risk" to Dunkin' shares which he notes are trading at a discount to its average peer relative multiple.