BofA analyst Elizabeth Suzuki raised the firm’s price target on Driven Brands (DRVN) to $18 from $16 and keeps a Buy rating on the shares after the company reported Q3 results and updated guidance for 2024 to reflect the sale of the Canadian distribution business. Given the updated guidance, the firm is lowering its 2025 and 2026 EPS estimates by 9.3% and 9.6%, respectively, but it is raising its target given continued strength in Take 5 and growth opportunities in Car Wash and PC&G.
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