Denny’s price target lowered to $4 from $6 at Piper Sandler

Piper Sandler analyst Brian Mullan lowered the firm’s price target on Denny’s (DENN) to $4 from $6 and keeps a Neutral rating on the shares following quarterly results. The Q2 domestic systemwide same-store sales result was down 1.3% at the core Denny’s brand, which is indicative of the tough operating environment for the Family Dining segment right now, the firm notes.