Domino’s Pizza price target lowered to $405 from $430 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Domino’s Pizza to $405 from $430 and keeps an Overweight rating on the shares. When the firm upgraded Domino’s last month, it points out that it had noted "some patience was likely required," but the firm now acknowledges it "may have under-appreciated" the time to get to solutions. Following the company’s Q4 report it is "now clear that the tough narratives on slower unit growth and delivery weakness… aren’t going away in 2023, at least for the first part of the year," the analyst tells investors. However, the firm still sees long-term value in the shares.