Denny's Corp falls as Wedbush downgrades stock to 'neutral'

Dennys

24/06/2022 12:13

** Shares of Denny's Corp  DENN.O  down 1.3% at $8.78 in
premarket trading
    ** Wedbush cuts rating on stock to "neutral" from
"outperform"; lowers PT to $10 from $16
    ** "We are unsure if DENN's historical valuation premium can
survive a CEO transition and an acquisition integration in an
uncertain environment" - Wedbush 
    ** Brokerage also lowers 2022 EPS ests to 56 cents from 61
cents; says a lack of fundamental catalysts is likely to persist
    ** Avg. rating of nine analysts is "buy"; median PT is $13 -
Refinitiv data
    ** As of last close, stock fell ~44% this year 
    
    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))