Domino’s Pizza price target raised to $535 from $475 at BMO Capital

BMO Capital analyst Andrew Strelzik raised the firm’s price target on Domino’s Pizza to $535 from $475 and keeps an Outperform rating on the shares after its Q4 earnings beat driven by “stronger U.S. comps and supply chain margins”. The quarter reaffirms BMO’s view that Domino’s has reached an inflection point, with shares set up well through 2024 as sales drivers build and unit growth accelerates, the analyst tells investors in a research note. The firm also sees the stock as an “attractive growth vehicle” over the longer term, driven by its strong sales growth opportunity, premium brand, digital leadership, and attractive cash flow.