Piper Sandler analyst Peter Keith raised the firm’s price target on Driven Brands (DRVN) to $13 from $11 and keeps a Neutral rating on the shares following long-awaited Q4 results. Though it will likely take some time for the company to rebuild trust with investors following its restatements, it clearly articulated reasons for the accounting errors, the firm says, adding that management has taken steps to upgrade numerous people across the finance team while leveraging the company’s Oracle ERP system, which was installed in late 2024 and helped in finding the accounting errors.
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