Oppenheimer raised the firm’s price target on Domino’s Pizza to $530 from $470 and keeps an Outperform rating on the shares. The firm believes Q4’s business update provides additional fuel to the revival story and solidifies Domino’s placement in its “top picks.” Oppenheimer has identified multiple catalysts idiosyncratic to Domino’s that could deliver accelerating traffic/same-store sales despite a more difficult operating environment for peers. This could enable upside to consensus in 2024 and 2025, and position the model for continued positive revisions, the firm adds.
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Read More on DPZ:
- Domino’s Pizza Issues Financial Health Update for Investors
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