Barclays analyst Jeffrey Bernstein lowered the firm’s price target on Dine Brands to $80 from $90 and keeps an Overweight rating on the shares. To start 2023, the analyst expect discretionary restaurants to outperform, with sales resilient, pricing outsized and inflation easing. But as we move through the year, defensive restaurants that are franchised and quick service will outperform, assuming a recession leads to trade-down, Bernstein tells investors in a research note. In addition, he believes distributors are well positioned in either scenario.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on DIN:
- Dine Brands price target lowered to $80 from $85 at Wedbush
- Dine Brands management to meet with KeyBanc
- IHOP and General Mills partner to turn the brand’s iconic pancakes into cereal
- NRD Capital to Sell Fuzzy’s Taco Shop to Dine Brands for $80M
- Dine Brands to acquire Fuzzy’s Taco Shop for $80M in cash