Denny's price target was cut to $10 from $15 at Benchmark

Benchmark analyst Todd Brooks cut the company's value Price target on Denny's (BECAUSE) from $15 to $10 and maintains a Buy rating on the shares. Third-quarter results were below consensus expectations, while slightly below the company's same-store revenue and sales estimates, but with inline AEBITDA results and better-than-estimated adjusted EPS results, the analyst told investors. Much of the investor day content was “overwhelmed” by the announcement that Denny's was working with franchisees to accelerate the closure of 150 lower-volume units by the end of 2025 to create a stable base of franchisee locations exiting FY25 says the analyst, who lowers the company's target multiple after the earnings report and investor event.