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Wedbush Upgrades Dunkin’ Brands to ‘Outperform’

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Jun. 25 2019, Updated 10:47 a.m. ET

Wedbush’s upgrade

Today, Wedbush upgraded Dunkin’ Brands (DNKN) from “neutral” to “outperform,” and also raised its 12-month price target to $92 from $76. The new price target represents an upside potential of 15.7% from its June 21 closing price of $79.54.

Nick Setyan of Wedbush stated, “We believe Dunkin’ U.S. is currently undergoing an inflection in SSS growth that is underappreciated by the Street. Importantly, in our view, the probability of a sustained inflection beyond the near-term is now high enough to warrant a more positive stance. Therefore, we upgrade shares of DNKN to OUTPERFORM from NEUTRAL,” as reported by CNBC.

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Other analysts’ recommendations

Since Dunkin’ Brands reported its first-quarter earnings on May 2, UBS, Mizuho, Morgan Stanley, J.P. Morgan, and Cowen and Company have all raised their price targets. UBS hiked its price target from $72 to $75, Morgan Stanley increased its price target from $68 to $71, J.P. Morgan raised its price targets from $72 to $74, and Cowen and Company hiked its price target from $67 to $74.

Overall, analysts favor a “hold” rating for Dunkin’ Brands with 77.8% of 27 analysts that follow the stock giving it a “hold “rating, while 18.5% are favoring a “buy” rating, and the remaining 3.7% are recommending a “hold “rating.” On average, analysts’ 12-month price target for DNKN stands at $76.83, which implies a fall of 3.4% from its stock price of $79.54.

Peer comparisons

Of the 31 analysts that follow Starbucks (SBUX), 35.5% are in favor of a “buy” rating, while 61.3% were recommending a “hold,” and 3.2% are advocating a “sell” rating. On average, analysts have given SBUX a 12-month price target of $79.13, which implies a fall of 5.6% from its stock price of $83.82.

Of the total 31 analysts that follow McDonald’s (MCD), 77.4% are recommending a “buy” rating, while the remaining 22.6% are favoring a “hold” rating. On average, analysts have given MCD a 12-month price target of $216.72, which implies a potential upside of 6.1% from its stock price of $204.26.

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