Domino’s Pizza price target lowered to $422 from $429 at Piper Sandler

Piper Sandler analyst Brian Mullan lowered the firm’s price target on Domino’s Pizza to $422 from $429 and keeps a Neutral rating on the shares. Domino’s Pizza reported Q3 results, with domestic same-store sales up 3.1%, below consensus, though the International business underwhelmed on both SSS and net unit growth, the analyst tells investors in a research note. Despite the downward revisions to its top-line outlook for next year, however, Domino’s maintained that it expects adjusted operating income growth of 8%, the firm says, adding that it expects to see some downward revisions to consensus estimates.