Shares of Dunkin' Brands (DNKN) were climbing over 3% during mid-morning trading on Monday after the stock was upgraded at RBC to "Outperform" from "Sector Perform" and assigned a $64 price target.
"We are increasing our target to $64 and upgrading Dunkin ... largely based on our outlook for improving franchisee profitability and improved long-term unit and EPS growth," RBC analyst David Palmer noted. "In addition, we see upside from potential cash back to shareholders - either through accelerated buybacks or a higher dividend payout."
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