Dine Brands Shares Are Attractive Despite Sluggishness And Adjusted EBITDA Downgrades: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Truist Securities analyst Jake Bartlett has reiterated a Buy rating on Dine Brands Global, Inc. (DIN), but lowered the price target from $90 to $78. Despite Q2 earnings beating estimates, sluggishness and downgraded adjusted EBITDA estimates for FY23 and FY24 have been noted. IHOP's performance is solid, but Applebee's growth has decelerated. The analyst views DIN shares as attractive, trading at 7.6x their '24E EBITDA.
August 04, 2023 | 6:52 pm
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Dine Brands Global, Inc. (DIN) has had its price target lowered by Truist Securities analyst Jake Bartlett, despite a Buy rating being reiterated. Q2 earnings beat estimates, but concerns over sluggishness and downgraded EBITDA estimates for FY23 and FY24 persist.
The news is directly related to Dine Brands Global, Inc. (DIN) and is likely to impact its stock price. The reiteration of a Buy rating indicates positive sentiment, but the lowering of the price target and concerns over sluggishness and downgraded EBITDA estimates could create uncertainty among investors, potentially leading to short-term price volatility.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100