Oppenheimer has raised its Domino’s Pizza Inc. price target to $450 from $427 and added the pizza chain to its list of “top picks,” citing the positive...
Oppenheimer has raised its Domino’s Pizza Inc. DPZ, +0.46% price target to $450 from $427 and added the pizza chain to its list of “top picks,” citing the positive impact of same-store sales. “We view DPZ as an under-appreciated revival story into ’24,” wrote Oppenheimer analyst Brian Bittner, in a note released Tuesday.
” In its second-quarter results in July Domino’s profit beat expectations but its revenue surprisingly declined. The company reports third-quarter results before market open on Oct. 12. “Over the past 18 months, our stance had been less bullish owing to a downward revision cycle that we now believe has bottomed and will reverse,” wrote Bittner. “We don’t expect upside to 3Q23 results , but are attracted to the event path thereafter including our HQ visit , Investor Day and future results.
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