Roth MKM upbeat on new CEO appointment by Joint Corp.

Roth MKM keeps a Buy rating and $16 price target on Joint Corp. (JYNT) after the company named Sanjiv Razda as its new CEO. Mr. Razdan has experience leading various franchise and multi-unit businesses, serving at The Coffee Bean & Tea Leaf, Sweetgreen (SG), Dine Brands (DIN), and YUM! Brands (YUM), and the firm remains upbeat on the stock given the company’s ongoing refranchising effort, potential for overhead/corporate cost cutting, significant growth opportunity, and inexpensive pro forma valuation, the analyst tells investors in a research note.