Denny’s price target lowered to $7 from $8 at Citi

Citi analyst Jon Tower lowered the firm’s price target on Denny’s (DENN) to $7 from $8 and keeps a Buy rating on the shares post the Q4 report. The firm says the company’s momentum gained after a favorable Q4 pre-release “quickly reversed,” with a “much choppier backdrop” in the balance of January and into February and border state weakness. However, the firm still sees the stock’s risk/reward as favorable at these levels.