JPMorgan downgraded Krispy Kreme (DNUT) to Neutral from Overweight with an unchanged price target of $13. The analyst cites valuation for the downgrade with the shares up 26% year-to-date. The firm says the “much anticipated” McDonald’s (MCD) rollout seems to be a near term event with a portion of incremental capex allocated to the logistics of this evolving partnership.
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Read More on DNUT:
- Krispy Kreme price target lowered to $14 from $15 at Citi
- McDonald’s, Krispy Kreme in talks to expand partnership, CNBC reports
- Krispy Kreme (NASDAQ: DNUT) Dips as Q3 Results Miss Estimates
- Krispy Kreme backs FY23 adjusted view EPS 31c-34c, consensus 32c
- Krispy Kreme reports Q3 adjusted EPS 3c, consensus 5c
