BTIG lowered the firm’s price target on Driven Brands (DRVN) to $21 from $22 and keeps a Buy rating on the shares after the company reported Q3 results that were slightly ahead of Street expectations and guidance for FY25 was narrowed. Following the report, the firm is trimming its price target primarily due to lower comparable company valuations.
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Read More on DRVN:
- Driven Brands raises FY25 adjusted EPS view to $1.23-$1.28 from $1.15-$1.25
- Driven Brands reports Q3 adjusted EPS 34c, consensus 30c
- Driven Brands price target lowered to $19 from $22 at Piper Sandler
- Driven Brands Holdings Closes $500M Senior Secured Notes
- Driven Brands Holdings, Inc. (DRVN) Q3 Earnings Cheat Sheet