Denny jumps 50% on $620 mn buyout, Oppenheimer cautious
Denny (DENN) soared over 50% premarket after agreeing to a $620 mn buyout led by Yadav Enterprises. Oppenheimer downgraded the stock to perform, saying it doesn't expect a competitive bidding process and sees the deal closing in Q1 2026. Truist Securities also downgraded Denny's to ‘Hold’ from ‘Buy’ with an unchanged price target of $6.