Domino’s Pizza price target raised to $550 from $491 at BofA

BofA raised the firm’s price target on Domino’s Pizza to $550 from $491 and keeps a Buy rating on the shares. Given that UberEats contributed about 0.4 points to same-store sales growth in the quarter, despite being in pilot for most of the quarter and lacking marketing support, the firm believes the 3% mix target is “very achievable” and may even prove conservative, the analyst tells investors in a post-earnings note. The firm believes that Domino’s growth rate will likely continue to surprise to the upside as unit growth reaccelerates and traffic drivers gain traction, the analyst added.