Noble Capital Downgrades Twin Hospitality to Market Perform Amid Debt Acceleration Concerns
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 01 2025
0mins
Noble Capital analyst Joe Gomes downgraded Twin Hospitality (TWNP) to Market Perform from Outperform after Twin and parent company FAT Brands (FAT) disclosed on November 17 that they received notices of acceleration from UMB with respect to Securitization Notes. While the firm views the issue to be capital structure related, and not related to operating performance, it is unclear how the debt acceleration impacts the conversions of Smokey Bones locations into company-owned Twin Peaks and the firm expects the recently announced proposed acquisition of eight franchisee locations to be on hold.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy FAT?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on FAT
About FAT
FAT Brands Inc. is a global franchising company, which acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. It owns 18 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. Round Table Pizza is the franchisor of quick service restaurants located in California and the western United States. Hot Dog on a Stick is the franchisor of quick service restaurants located in regional malls in California and the western United States. Johnny Rockets is an international restaurant franchise and offers menu items including Certified Angus Beef cooked-to-order hamburgers, chicken sandwiches, and malts.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
SanDisk Reports Strong Q2 Results, Shares Surge
- Strong Earnings Report: SanDisk's second-quarter results exceeded expectations, leading to a 20.9% surge in pre-market trading, with shares reaching $652.00, indicating strong market confidence in its financial health.
- Optimistic Q3 Guidance: The company forecasts third-quarter revenue between $4.4 billion and $4.8 billion, with non-GAAP diluted earnings per share expected to be between $12 and $14, suggesting ongoing improvement in growth potential and profitability.
- Joint Venture Extension: SanDisk announced the extension of its joint venture with Japan's Kioxia Corp. until December 31, 2034, further solidifying their strategic partnership in storage technology and enhancing market competitiveness.
- Positive Market Reaction: The significant rise in stock price reflects investor optimism about the company's future prospects, which may also attract more institutional investors, thereby elevating the company's standing in the industry.
Continue Reading
Boeing Reports Q4 Revenue Exceeding Expectations Amid Increased Deliveries
- Boeing Financial Highlights: Boeing reported Q4 revenue of $23.948 billion, a 57% increase from $15.242 billion last year, although the adjusted loss per share of $1.91 fell short of Wall Street's expectation of a $0.39 loss.
- Increased Deliveries: The company delivered 160 airplanes in the quarter, indicating a significant improvement in operational performance, despite not meeting overall financial expectations.
- Market Reaction: Boeing's stock fell 3%, reflecting investor concerns over the loss figures in the earnings report, even with strong revenue growth, which has dampened confidence in future profitability.
- Industry Impact: Boeing's performance fluctuations may affect overall confidence in the aerospace manufacturing sector, particularly against the backdrop of global supply chain recovery and rising demand, leading investors to adopt a more cautious outlook on the industry's prospects.
Continue Reading