Dine Brands gains after Truist Securities raises PT

Dine Brands Global

15/09/2022 19:00

** Shares of Applebee's owner Dine Brands Global Inc  DIN.N 
rise as much as ~6% to near one-month high of $75.76
    ** Stock last up ~5%, on course for second straight session
of gains  
    ** Truist Securities raises PT to $98 from $97, citing
confidence in DIN's sales and development despite macroeconomic
headwinds
    ** Brokerage believes DIN's recently launched value-oriented
limited-time offers could support traffic, as consumers remain
pressured by inflation; adding that company can benefit from
"slowly increasing operating hours"
    ** "Financial health of franchisees remains an investor
concern, but falling commodity prices and focus on costs should
help," says Truist, adding that they believe in DNI's
development
    ** Eight of 9 brokerages rate the stock "buy" or higher,
while one rates "hold"; with a median PT of $85 - Refinitiv data
    ** YTD, stock has fallen 1.1%

 (Reporting by Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com))