Market Overview

UPDATE: Wedbush Initiates Denny's Corporation at Outperform on Valuation, Refranchising Catalyst

Share:
Related DENN
Wedbush Securities Sees Q4 Results In Line With Preannouncement For Denny's
Mid-Morning Market Update: Markets Open Lower; Adobe Earnings Top Expectations
Should You Consider Bob Evans For The Trifecta? (Seeking Alpha)

Wedbush initiated Denny's Corporation (NASDAQ: DENN) with an Outperform rating and a $6.00 price target.

Wedbush said, "We believe Denny's current 30% discount to franchised peers is poised to narrow as investors give its business model appropriate recognition and as management executes towards the recapture of transactions lost since 2006. … With refranchising now complete, we expect the recapture of 16% of transactions lost since 2006 to be management's main focus going forward. In 2013, we believe remodels, non-breakfast daypart expansion, and a continued emphasis on LTOs and improved food quality could be drivers of SSS growth in addition to 100-150 bps of menu price."

Denny's Corporation closed at $5.00 on Monday.

Latest Ratings for DENN

DateFirmActionFromTo
Dec 2014Stephens & Co.DowngradesOverweightEqual-weight
Nov 2014Janney CapitalUpgradesNeutralBuy
Feb 2014WedbushDowngradesOutperformNeutral

View More Analyst Ratings for DENN
View the Latest Analyst Ratings

Posted-In: WedbushAnalyst Color Initiation Analyst Ratings

 

Related Articles (DENN)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga PRO content