Dine Brands price target lowered to $36 from $37 at KeyBanc

KeyBanc lowered the firm’s price target on Dine Brands (DIN) to $36 from $37 and keeps an Overweight rating on the shares. Following a series of meetings and calls with investors, KeyBanc believes sentiment has improved, since the summer, which is evident in the 15% increase for the group since the end of July, coinciding with an improvement in industry-wide same-store sales trends as in most cases year over year SSS growth comparisons eased, the analyst tells investors in a research note. The lowered price target for Dine Brands reflects the ongoing SSS declines at Applebee’s, the firm says.