KeyBanc Downgrades DineEquity (DIN) to Sector Weight
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
KeyBanc downgraded DineEquity (NYSE: DIN) from Overweight to Sector Weight and removed its price target. Analyst Chris O'Cull has less confidence in Applebee's efforts to improve SRS performance.
"When we upgraded DIN in early September it was based on our view the risk-reward proposition was attractive given the Company's above-average free cash flow and dividend yield and the potential for Applebee's SRS declines to moderate as management addressed some promotional mistakes during the 2Q. Since then, shares have increased 9% vs. no change in the KBCM Restaurant Index, and our confidence in Applebee's efforts to improve SRS is waning," said the analyst.
Shares of DineEquity closed at $84.71 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Pivotal Research Downgrades Kroger (KR) to Hold
- UPDATE: Oppenheimer Starts Paylocity Holding (PCTY) at Perform
- Brean Capital Cuts Price Target on G-III Apparel Group (GIII) Following 3Q Miss
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!