KeyBanc Upgrades DineEquity (DIN) to Overweight

September 7, 2016 7:06 AM EDT
Get Alerts DIN Hot Sheet
Price: $73.21 -0.27%

Rating Summary:
    6 Buy, 7 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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KeyBanc upgraded DineEquity (NYSE: DIN) from Sector Weight to Overweight with a price target of $90. Analyst Chris O'Cull sees compelling risk-reward.

"In our opinion, DIN's current risk-reward proposition represents a good entry point, especially for investors seeking companies with strong free cash flows ($6.25/share, 8% yield) and an above-average dividend yield (4.7%). We believe the promotional adjustments made at Applebee's during 3Q have led to more moderating SRS declines; we believe weak SRS at Applebee's during 1H16 caused shares to pull back. Applebee's is working on several initiatives, including new value messages, bar improvements and off-premise opportunities, that we expect to reverse negative SRS trend by early 2017," said O'Cull.

For an analyst ratings summary and ratings history on DineEquity click here. For more ratings news on DineEquity click here.

Shares of DineEquity closed at $78.29 yesterday.

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