DNKN - Dunkin' Brands on watch after Piper turns bullish

Piper Sandler hikes upgrade of Dunkin' Brands (DNKN) to an Overweight rating from Neutral on its view that the company has favorable exposure to suburban and rural markets.Analyst Nicole Miller Regan: "Our thesis is predicated on a 1.) low ticket, high frequency offering, 2.) franchise business model that has transferred operating risk and maintains a healthy partnership with franchise operators, 3.) exposure to suburban markets, an East Coast re-opening, and less reliance on urban/central business district sales, and 4.) an experience that is not replicable at home. Under this framework we expect rather consistent execution, and enough performance to support its total return policies."Piper's new price target of $89 is above the average Wall Street rating of $73.82.

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Dunkin' Brands on watch after Piper turns bullish