Domino’s Pizza named Top Pick for first half of 2023 at BTIG

BTIG analyst Peter Saleh names Domino’s Pizza (DPZ) as his BTIG Top Pick for first half of 2023, replacing Starbucks (SBUX) on that list. Domino’s has the most compelling return potential for the coming year within his large cap restaurants coverage given its expected menu pricing, restaurant margin recovery and overly bearish sentiment, the analyst tells investors in a research note. Saleh adds that Domino’s Pizza sales should benefit from easier comparisons, and the company’s stronger sales and margin performance should drive a recovery in franchise unit-level EBITDA through 2023/24. The analyst has a Buy rating and a $460 price target on the stock.