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JP Morgan reduced its rating on Dunkin' Brands
DNKN from Overweight to Neutral while reiterating its price target at $33 a share.
JP Morgan noted, "Reflective of extremely strong outperformance, we are downgrading Dunkin' Brands to Neutral. The stock is up ~90% since the pricing of its IPO in July 2011, up ~45% YTD, and is just 4% off its recent high, in contrast to peers MCD, CMG, DPZ, YUM and SBUX, which are down 10-15% from their 52-week highs."
Dunkin' Brands closed at $35.39 on Monday.
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