Citi sustains Buy on Denny’s stock, reiterates price target on resilience By Investing.com
On Monday, Citi reaffirmed its positive stance on Denny’s (NASDAQ:) Corporation (NASDAQ:DENN) shares, maintaining a Buy rating and a price target of $7.50. Currently trading at $5.61, the stock appears undervalued according to InvestingPro analysis, with analyst targets ranging from $6 to $10.
The optimism follows Denny’s recent performance, which surpassed analyst expectations. The company reported a fourth-quarter system-wide same-store sales (SSS) increase of 1.1%, which contrasts with Citi’s projection of a 0.5% decline and the consensus estimate of a 0.3% rise.
The total count of Denny’s stores, however, fell short of forecasts due to a higher number of net closures. According to the analyst’s remarks, this reduction in store count…
