Denny’s price target lowered to $8 from $10 at Truist

Truist lowered the firm’s price target on Denny’s (DENN) to $8 from $10 and keeps a Buy rating on the shares. The firm continues to see significant upside to the shares following Denny’s Investor Day last week, telling investors in a research note that Denny’s has sales drivers in place to at least partially offset stiff macro headwinds, including an improved value offering, expanding virtual brands, a new loyalty program and remodels. The firm view Denny’s long-term development guidance as aggressive, but does not view any growth as priced in at current levels.