Donut Maker Krispy Kreme's Shares Bake Up a 7%+ Rally
Donut Maker Krispy Kreme's Shares Bake Up a 7%+ Rally
$Krispy Kreme (DNUT.US)$ rose more than 7% Friday after Piper Sandler analyst Brian Mullan upgraded the donut maker to "Overweight" from Neutral" and raised its price target to $20 from a previous $14.
$Krispy Kreme (DNUT.US)$ 派珀·桑德勒分析师布莱恩·穆兰将这家甜甜圈制造商从 “中性” 上调至 “增持”，并将目标股价从之前的14美元上调至20美元，周五上涨了7％以上。
DNUT gained 7.3% on the news to close Friday at $15.33.
消息传出后，DNUT上涨7.3％，周五收于15.33美元。
Mullan wrote in a note that as a result of the company's recently announced national partnership with $McDonald's (MCD.US)$, the stage is set for a material expansion of DNUT's Points of Access (POA) in the U.S. over the next roughly three years.
穆兰在一份报告中写道，由于该公司最近宣布与全国建立合作伙伴关系 $麦当劳 (MCD.US)$，未来大约三年，DNUT在美国的接入点（POA）的实质性扩张已经准备就绪。
He argued that the partnership the gives Krispy Kreme management the confidence and ability to significantly increase its donut-production-capacity investments across the U.S.
他认为，该合作伙伴关系使Krispy Kreme管理层有信心和能力大幅增加其在美国各地的甜甜圈产能投资。
According to Mullan, the last three years have not been the best historical time period from a free cash flow generation perspective for DNUT.
根据穆兰的说法，从自由现金流产生的角度来看，过去三年并不是DMUT历史上最好的时期。
But the analyst mentioned that Krispy Kreme could reduce its balance-sheet leverage by approximately 1.6x by the end of 2026 compared to the end of 2023 even as it finances expansion of its capacity.
但这位分析师提到，尽管Krispy Kreme为产能扩张提供资金，但到2026年底，其资产负债表杠杆率与2023年底相比仍可能降低约1.6倍。
By the end of 2023, there were 13,457 McDonald's locations in the U.S., and the analyst projects that DNUT could target 85% of these locations by the end of 2026.
到2023年底，麦当劳在美国共有13,457个分店，分析师预计，到2026年底，DNUT可能会将目标对准其中85％的门店。
The analyst thinks the McDonald's partnership is a game changer for the business, and expects to see the narrative around DNUT start to improve from here.
这位分析师认为，麦当劳的合作伙伴关系改变了该业务的游戏规则，并预计围绕DNUT的说法将从此开始改善。