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·桑德勒分析師布萊恩·穆蘭將這家甜甜圈製造商從 “中性” 上調至 “增持”，並將目標股價從之前的14美元上調至20美元，週五上漲了7％以上。
DNUT gained 7.3% on the news to close Friday at $15.33.
消息傳出後，DNUT上漲7.3％，週五收於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.
穆蘭在一份報告中寫道，由於該公司最近宣佈與全國建立合作伙伴關係 $麥當勞 (MCD.US)$，未來大約三年，DNUT在美國的接入點（POA）的實質性擴張已經準備就緒。
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.
他認爲，該合作伙伴關係使Krispy Kreme管理層有信心和能力大幅增加其在美國各地的甜甜圈產能投資。
According to Mullan, the last three years have not been the best historical time period from a free cash flow generation perspective for DNUT.
根據穆蘭的說法，從自由現金流產生的角度來看，過去三年並不是DMUT歷史上最好的時期。
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.
但這位分析師提到，儘管Krispy Kreme爲產能擴張提供資金，但到2026年底，其資產負債表槓桿率與2023年底相比仍可能降低約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，麥當勞在美國共有13,457個分店，分析師預計，到2026年底，DNUT可能會將目標對準其中85％的門店。
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.
這位分析師認爲，麥當勞的合作伙伴關係改變了該業務的遊戲規則，並預計圍繞DNUT的說法將從此開始改善。