Domino’s Pizza price target raised to $420 from $380 at Loop Capital

Loop Capital raised the firm’s price target on Domino’s Pizza to $420 from $380 and keeps a Hold rating on the shares. The firm’s latest round of checks with U.S. franchisees for Domino’s suggests that same-store sales accelerated from 1.0%-1.5% growth quarter to date through early December to 3.5%-4.0% growth over the last three weeks of the year, the analyst tells investors in a research note. On a 2-year stacked basis, the implied 2.0% growth equates to a gain of 2.8%, compared to the company’s reported 2-year stacks of 1.5% in Q3, the firm added.