Piper Sandler lowered the firm’s price target on Domino’s Pizza to $429 from $436 and keeps a Neutral rating on the shares. As it pertains to the company’s upcoming Q3 earnings release, the firm’s sense is that investor expectations call for Domino’s Pizza to report a domestic same-store sales result of +3.0% or perhaps a little bit better than that, but below the current consensus estimate of +3.8%. Piper notes that should Domino’s Pizza in fact report a Q3 domestic same-store sales result of +3.0%, the five-year geometric stack would imply that the Q4 time period looks okay for Domino’s Pizza, even if a bit below current consensus estimates.
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