Driven Brands price target lowered to $25 from $27 at Barclays

Barclays lowered the firm’s price target on Driven Brands to $25 from $27 and keeps an Overweight rating on the shares. The company’s analyst meeting highlighted its “numerous” organic growth opportunities but also some recent roadblocks that are reflected in 2023 guidance and now lower 2024 outlook, the analyst tells investors in a research note. The firm does not see a rush to buy the shares, but says the stock’s risk/reward “seems compelling taking a long-term view.”