Dine Brands price target lowered to $21 from $25 at UBS

UBS lowered the firm’s price target on Dine Brands (DIN) to $21 from $25 and keeps a Neutral rating on the shares. Sales pressure in Q1 reflected macro headwinds and softer consumer spending, particularly among the lower income customer cohort, the analyst tells investors in a research note. UBS is encouraged by the improving sales and development trends, but looks for continued visibility into improved same-store sales and unit growth.