UBS Initiates Coverage of Dunkin Brands (DNKN)
UBS has announced on Monday that they have taken coverage of restaurant franchiser, Dunkin Brands Group Inc(DNKN).
The firm reported that they have initiated coverage of DNKN, and have given the company a “Buy” rating with a $36 price target. This price target suggests a 15% increase over the stock’s current price of $30.49.
Analysts rating of the company was due to DNKN’s competitive insulation and innovation.
Dunkin Brands shares were mostly flat during premarket trading Monday. The stock is up 22.06% YTD.
The Bottom Line
Shares of Dunkin Brands Group (DNKN) have a 1.97% dividend yield, based on Friday’s closing stock price of $30.49. The stock has technical support in the 26-$28 price area. If the shares can firm up, we see overhead resistance around the $33-$34 price levels.
Dunkin Brands Group Inc(DNKN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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