Domino’s Pizza price target raised by $20 at Morgan Stanley, here’s why

Morgan Stanley raised the firm’s price target on Domino’s Pizza to $455 from $435 and keeps an Overweight rating on the shares. The company’s first investor day in several years delivered on strategic detail, financial goals, and encouraging near-term indicators, the analyst tells investors. The global retail sales five-year outlook was raised to 7%-plus from 4%-8% previously and although the bottom line “moves down modestly in the near term,” the firm remains comfortable with its above-consensus top-line estimates in 2024 and 2025, the analyst added.