Dine Brands price target raised to $48 from $46 at Wedbush

Wedbush raised the firm’s price target on Dine Brands to $48 from $46 and keeps a Neutral rating on the shares after the company reported Q4 EPS above expectations despite same-store sales growth softness and reinstated 2024 same-store sales growth guidance in-line with expectations. However, Q1 softness raises questions about the feasibility of bridging the gap with full-year guidance and the firm views visibility into 2024 unit growth as “limited,” the analyst tells investors.