BofA lowered the firm’s price target on Krispy Kreme to $16 from $19 and keeps a Buy rating on the shares. Ahead of earnings from the group, the firm fine tuned estimates for 19 restaurant companies across its coverage and also adjusted selected price targets to reflect estimate changes and lower market multiples. Across three different measures of restaurant industry performance, the firm sees evidence that June restaurant demand variously slowed moderately, was stable and improved in real terms, notes the analyst, who looks for the coming earnings reports to offer clarity.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DNUT:
- Krispy Kreme to provide Rewards members ‘FREEbies’ every Tuesday, Friday in July
- 3 Best Stocks to Buy Now, 6/11/2024, According to Top Analysts
- Walmart upgraded, AMD downgraded: Wall Street’s top analyst calls
- Krispy Kreme upgraded to Buy from Hold at Truist
- Unusually active option classes on open June 3rd