Piper Sandler lowered the firm’s price target on Driven Brands (DRVN) to $11 from $12 on lower estimates, while keeping a Neutral rating on the shares. The firm notes Driven Brands announced preliminary results for Q4 and Q1, which are ultimately still unaudited and thus, subject to change. Furthermore, the company is no longer able to meet the April 26 deadline for its 10K filing, so Driven now has until June 15 to submit its 10K to regain compliance, according to Nasdaq listed rules.
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