Barclays lowered the firm’s price target on Driven Brands to $17 from $21 and keeps an Overweight rating on the shares. The firm said steps to improve the quality/execution of its diversified auto services platform including closing/divesting underperforming assets, focusing on operations, lowering capex, deleveraging the balance sheet are on point, but the process will take time and as a result the company remains a “show me” story.
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