Benchmark lowered the firm’s price target on Driven Brands to $20 from $25 and keeps a Buy rating on the shares as the firm reduced its 2024 adjusted EBITDA estimate after Driven reported Q4 results last week. The firm, which notes that most of the operating gains in 2024 will come in the second half of the year, continues to recommend purchase of Driven shares.
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Read More on DRVN:
- Driven Brands price target lowered to $20 from $22 at Canaccord
- Driven Brands price target lowered to $16 from $18 at Goldman Sachs
- Driven Brands sees FY24 adjusted EPS 88c-$1.00, consensus $1.12
- Driven Brands Holdings Inc. Reports Fourth Quarter and Fiscal Year 2023 Results
- Driven Brands reports Q4 adjusted EPS 19c, consensus 19c
