Denny’s price target lowered to $12 from $13 at Oppenheimer

Oppenheimer lowered the firm’s price target on Denny’s to $12 from $13 and keeps an Outperform rating on the shares following quarterly results. Denny’s initial 2024 EBITDA guidance may force consensus estimates slightly lower, the firm says. Interestingly, Oppenheimer points out, same-store sales are anticipated to be flat to +3% for the year, with its follow-up call revealing minimal impact from January winter weather.