Oppenheimer Downgrades Denny's Corporation (DENN) to Perform

Oppenheimer analyst Michael Tamas downgraded Denny's Corporation (NASDAQ: DENN) from Outperform to Perform.

The analyst comments: "DENN has agreed to be acquired by a group of investors including Yadav Enterprises – a large DENN & JACK franchisee. The takeout price of $6.25 is a 52% premium representing ~$620M in enterprise value, which equates to 7.8x/7.6x EV/EBITDA off our updated '25E/'26E estimates. We currently do not anticipate a competitive bidding process and expect the deal to close as planned in 1Q26. We shift our rating to Perform (from Outperform) and do not anticipate shares to trade off fundamentals as long as the deal process is ongoing."

For an analyst ratings summary and ratings history on Denny's Corporation click here. For more ratings news on Denny's Corporation click here.

Shares of Denny's Corporation closed at $4.11 yesterday.

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