Domino’s Pizza price target lowered to $510 from $525 at BMO Capital

BMO Capital lowered the firm’s price target on Domino’s Pizza to $510 from $525 but keeps an Outperform rating on the shares after meeting with its management team for investor meetings. Consumer pressures are greater than expected at the time of the July earnings call, and the firm is modestly reducing its near-term comp expectations, though the company also sounded comfortable with traction behind initiatives and relative performance amid a challenging environment, the analyst tells investors in a research note. The management was also confident in multi-year growth opportunity and its array of sales levers, BMO added.