Denny's Corp gains as Citi raises PT

Dennys

11/01/2023 16:57

** Shares of restaurant chain Denny's Corp  DENN.O  up 2.3%
at $11.83
    ** Citi Research raises PT on company's shares by $1 to $13
    ** Brokerage says DENN has pitched a fairly constructive
same-store sales story, but adds "we don't see the needle moving
enough on the unit growth story to drive a re-framing of the
narrative on the stock"
    ** Citi Research says inflationary pressures do not appear
to be reflected in Wall Street's top- or bottom-line estimates
    ** Brokerage also raises PT on burger chain Jack in the Box
Inc  JACK.O  to $81 from $75
    ** Brokerage adjusts FY 2024 EPS est for Jack in the Box to
$5.56 from $5.37 to reflect slightly better sales and margin
expectations
    ** 4 of 9 brokerages rate DENN "buy" or higher, 5 "hold";
median PT $13 - Refinitiv
    ** 5 of 20 brokerages rate JACK "buy" or higher, 14 "hold"
and 1 "sell"; median PT $78
    ** DENN fell 42.4% in 2022, while JACK dropped ~22%
 (Reporting by Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com))