Driven Brands downgraded to Market Perform from Outperform at William Blair

William Blair downgraded Driven Brands (DRVN) to Market Perform from Outperform without a price target The company’s additional annual filing delay and audited results for Q1 “does little to ease investor concerns,” the analyst tells investors in a research note. The firm believes Driven’s efforts to rebuild credibility “will be harder-won against increasing bearish sentiment.” Blair adds that short interest in the shares is near all-time highs at over 21%.