Driven Brands price target lowered to $19 from $22 at Piper Sandler

Piper Sandler lowered the firm’s price target on Driven Brands (DRVN) to $19 from $22 and keeps an Overweight rating on the shares. The firm expects a Q3 comparable sales deceleration from Q2 of +1.7% to flattish in Q3 as Driven Brands begins to lap very difficult international Car Wash segment compares. Also, Piper expects a healthy Take 5 comp of +5% but moderation from Q2 as well.