Dunkin' Double Upgraded at Credit Suisse on Resilience During Pandemic [TheStreet.com]
DUNKIN BRANDS GROUP (DNKN)
Last dunkin brands group earnings: 4/30 06:00 am
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US:NASDAQ Investor Relations:
investor.dunkinbrands.com/investor-relations
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Source: TheStreet.com
Dunkin' Brands(DNKNGet ReportCredit Suisse lifted its rating on the Canton, Mass., quick-service chain two notches, to outperform, from underperform, according to published reports.The investment firm also boosted its price target on Dunkin' to $67 a share, which indicates 16% upside from the stock's Thursday closing price.Shares of Dunkin' at last check dropped 3.3% to $56.04, in line with a broader market downturn as investors brace for a flood of rough quarterly earnings reports amid the coronavirus crisis.Despite what it estimates was a 30% to 40% drop in sales over the past two weeks, Credit Suisse contends the chain's business model, in which all restaurants are owned by individual franchise owners, should help Dunkin' weather the coronavirus-driven economic downturn better than many of its peers.In particular, the all-franchised business model means the risk of mass closures is limited. Dunkin' franchisees also are likely eligible to apply for small-business payroll- protection
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