Dine Brands price target lowered to $38 from $40 at Piper Sandler

Piper Sandler analyst Brian Mullan lowered the firm’s price target on Dine Brands (DIN) to $38 from $40 and keeps a Neutral rating on the shares. The firm is updating its model to account for the company’s Q3 earnings results last week. The quarter was a tough one with Applebee’s same-store sales down 5.9% and IHOP down 2.1%, Piper adds.