Analysts Offer Insights on Services Companies: Denny’s Corp (NASDAQ: DENN) and Forrester Research (NASDAQ: FORR)

By Ryan Adsit

There’s a lot to be optimistic about in the Services sector as 2 analysts just weighed in on Denny’s Corp (DENNResearch Report) and Forrester Research (FORRResearch Report) with bullish sentiments.

Denny’s Corp (DENN)

In a report released today, Stephen Anderson from Maxim Group maintained a Buy rating on Denny’s Corp, with a price target of $21. The company’s shares closed yesterday at $18.62, close to its 52-week high of $19.13.

Anderson said:

“We maintain our Buy rating and $21 price target on Denny’s (DENN) following yesterday’s release of in-line 1Q19 (March) results. DENN posted 1Q19 pro forma EPS of $0.13, in line with consensus, but below our estimate of $0.14. However, revenue beat projections with a +1.2% blended comp (vs. +1.0% Maxim and +0.9% Street). We lower our 2019 EPS estimate to $0.74, from $0.75, and our 2020 EPS estimate to $0.97, from $0.98, though this primarily reflects changes in expense timing tied to refranchising.”

According to TipRanks.com, Anderson is a 5-star analyst with an average return of 10.0% and a 68.0% success rate. Anderson covers the Services sector, focusing on stocks such as Dave & Busters Entertainment, Good Times Restaurants Inc, and Famous Dave’s Of America.

Currently, the analyst consensus on Denny’s Corp is a Strong Buy with an average price target of $20.67, which is an 11.0% upside from current levels. In a report issued on April 17, Wedbush also maintained a Buy rating on the stock with a $20 price target.

See today’s analyst top recommended stocks >>

Forrester Research (FORR)

In a report released today, Allen Klee from Maxim Group maintained a Buy rating on Forrester Research, with a price target of $62. The company’s shares closed yesterday at $50.86, close to its 52-week high of $51.36.

Klee noted:

“1Q19 Revenue and EPS topped our estimates increasing our confidence, as this is the seasonally slowest quarter, and high risk as the SiriusDecision acquisition closed in early January.”

According to TipRanks.com, Klee ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -12.6% and a 36.3% success rate. Klee covers the Technology sector, focusing on stocks such as Sify Technologies Limited, Dolphin Entertainment Inc, and ATN International Inc.

Currently, the analyst consensus on Forrester Research is a Moderate Buy with an average price target of $62.

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