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Dunkin' Brands Group (DNKN - Get Report) shares were running hot Wednesday, climbing 2% to $80.88, after Argus increased its rating on the quick service restaurant chain's stock to buy from hold with a target price of $92 a share.

Analyst John Staszak said in a research note for clients that he expected "higher comps and accelerated store openings at Dunkin' Donuts U.S. to be driven by a range of factors, including drive-thru lines dedicated to mobile orders, brighter interior designs, espresso machines, digital order boards, and a tap system serving coffee, iced tea and cold brew."

Staszak said these steps will help the Canton, Massachusetts-based company to deliver 2% to 3% comparable sales growth and 5% revenue growth and high single-digit earnings growth in the near term.

"Over the long term," Staszak said, "we remain optimistic about Dunkin's strong franchise program, established brands, and opportunities to expand into new sales channels and geographic regions."

Last week, Dunkin' Brands beat second-quarter earnings expectations, reporting adjusted earnings of 86 cents a share vs. consensus estimates of 82 cents. A year earlier, Dunkin', which also operates Baskin-Robbins, earned 77 cents a share.

Revenue in the quarter rose to $359.3 million, up 2.5% from a year earlier. Analysts expected revenue of $360.5 million.

"We believe that Dunkin' Brands has opportunities to expand its namesake brand internationally and in the Western United States that distinguish it from other fast-food chains with less promising expansion opportunities," Staszak wrote. "Moreover, the company's fully franchised business model requires relatively little capital and provides a reliable income stream."