Domino’s Pizza price target lowered to $490 from $500 at RBC Capital

RBC Capital lowered the firm’s price target on Domino’s Pizza to $490 from $500 but keeps an Outperform rating on the shares. The company’s Q3 results were “better than feared” as revenue came in 1.6% below expectations despite management’s intra-quarter comments implying a softer-than-expected backdrop, the analyst tells investors in a research note. Despite lower-income consumer headwinds and increasing competitive intensity however, Domino’s continues to gain share in the U.S., even though international growth was challenged amid macro and idiosyncratic headwinds across Europe, Asia and the Middle East, the firm added.