Driven Brands price target raised to $24 from $23 at Canaccord

Canaccord raised the firm’s price target on Driven Brands (DRVN) to $24 from $23 and keeps a Buy rating on the shares. The firm said its survey previously showed hints of macro uncertainty and this time around they found that promotional activity remains stable. They believe the multiple can materially expand with U.S. Car Wash now divested, and as investor confidence returns.