Denny's shares are trading lower after the company reported better-than-expected Q4 financial results. Also, Wedbush maintained a Neutral rating on the stock but lowered its price target from $11 to $10.5.
Portfolio Pulse from Benzinga Newsdesk
Denny's shares are trading lower despite reporting better-than-expected Q4 financial results. Wedbush maintained a Neutral rating on DENN but lowered its price target from $11 to $10.5.
February 14, 2024 | 4:27 pm
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Denny's shares dropped after reporting strong Q4 results, influenced by Wedbush's price target reduction from $11 to $10.5, despite maintaining a Neutral rating.
The drop in Denny's shares, despite positive Q4 results, is likely due to the lowered price target by Wedbush. This adjustment in the price target, even with a maintained Neutral rating, can signal to investors a cautious outlook on the stock's value, leading to a short-term negative impact on the stock price.
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