Domino’s Pizza price target lowered to $440 from $450 at Citi

Citi lowered the firm’s price target on Domino’s Pizza to $440 from $450 and keeps a Neutral rating on the shares. The company’s Q3 results and commentary confirm the U.S. pizza category is “settling back into its pre-pandemic state,” the analyst tells investors in a research note. The category is highly competitive, where, even if Domino’s is the category leader and a long-term share winner, same-store-sales each quarrier are subject to who’s winning the near-term value, promotion, and innovation wars, says Citi.