The price target for Dunkin Brands Group Inc (DNKN) was increased by analysts at Wells Fargo on Monday.
Wells Fargo maintained its “Outperform” rating for DNKN with new price target of $35 to $37, up from $34 to $35. That is a 11% increase from Friday’s closing price of $32.33.
The analysts also raised Dunkin Brand’s 2013 earnings per share estimates to $1.52 from $1.51.
“We expect DNKN shares to move higher through 2013, driven by multiple expansion due to steadily increasing return on invested capital and what we view as high visibility into continued mid-teens EPS growth in 2013 and 2014,” said analyst Jeff Farmer.
Dunkin Brands shares were down 46 cents, or -1.42%, in trading on Monday.
The Bottom Line
Shares of Dunkin Brands (DNKN) have a 1.86% dividend yield, based on Friday’s closing stock price of $32.33. The stock has technical support in the $28-$30 price area. If the shares can firm up, we see overhead resistance around the $34-$36 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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