Baird lowered the firm’s price target on Domino’s Pizza to $535 from $580 and keeps an Outperform rating on the shares. The firm is trimming second half comp sales projections following what it calls “management’s fairly subdued commentary about macro conditions” at a competitor conference earlier today. While “disappointed” by the guarded tone about demand, the firm was also “reassured” to hear Domino’s say it is on track to deliver 2024 EBIT growth guidance of 8%-plus and the firm is “optimistic” that comps can strengthen in 2025, the analyst tells investors.
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