Domino’s Pizza price target lowered to $455 from $460 at RBC Capital

RBC Capital analyst Christopher Carril lowered the firm’s price target on Domino’s Pizza to $455 from $460 but keeps an Outperform rating on the shares. The company’s Q3 results were largely in line with expectation, and the firm is raising its FY23 EPS view to $14.55 from $13.61 to reflect Q3’s DPC Dash benefit and lower tax rate, the analyst tells investors in a research note. RBC adds that Domino’s loyalty program update, increased innovation pace and service improvements should drive Q4 comp acceleration, with the forthcoming national launch of its Uber Eats partnership set to provide a further tailwind next year.