Dine Brands price target lowered to $23 from $27 at Truist

Truist lowered the firm’s price target on Dine Brands (DIN) to $23 from $27 and keeps a Hold rating on the shares after its Q1 earnings miss. Both Applebee’s and IHOP have seen traction since March with positive comps at Applebee’s and positive traffic at IHOP, though given underperformance in FY24, the firm is not yet confident that the improvements are sustainable, the analyst tells investors in a research note.