Domino’s Pizza price target lowered to $490 from $510 at Oppenheimer

Oppenheimer analyst Brian Bittner lowered the firm’s price target on Domino’s Pizza to $490 from $510 and keeps an Outperform rating on the shares. Domino’s Pizza’s risk/reward has become highly actionable following its slump since the beginning of July, and valuation is now consistent with historical troughs despite the firm’s belief that same-store sales trends are positioned to remain above broader quick service restaurant peers, the analyst tells investors in a research note.