Dine Brands (DIN) PT Raised to $114 at Truist Securities Post Investor Day

Truist Securities analyst Jake Bartlett raised the price target on Dine Brands (NYSE: DIN) to $114.00 (from $112.00) while maintaining a Buy rating following the company's Investor Day.

The analyst commented, "At its investor day, DIN presented a strong LT plan, which we view as credible and could drive significant upside to the shares, driven by accelerating development, multiple SSS drivers and strong return of cash. We are increasing '23 ests and our PT to $114, from $112. DIN's SSS drivers include improved staffing, increasing traffic as COVID fades, a boost from virtual brands and IHOP's new loyalty program, with macro risk limited by strong value at both brands. DIN's accelerating growth plan appears credible given the solid financial position of franchises and int'l growth plans"

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