Oppenheimer bets on Denny's, says diner's rebranding will create value

Denny's waitress delivers free Grand Slam breakfasts to customers
Justin Sullivan | Getty Images

Restaurant chain Denny's' rebranding strategy is "serving up outsized returns," according to Oppenheimer.

The firm initiated coverage of the stock with an outperform rating and a $27 price target. Denny's currently trades around $22.59 per share.

More In Pro News and Analysis

CNBC ProHere are Friday's biggest analyst calls of the day: Nikola, Boeing, Western Digital, Oracle & more
CNBC ProMorgan Stanley slashes through the hype and picks 2 'green hydrogen' stocks
CNBC ProChipmakers are taking a beating, but investment bank CLSA sees one with 37% upside