BofA analyst Sara Senatore raised the firm’s price target on Domino’s Pizza to $582 from $577 and keeps a Buy rating on the shares ahead of the company reporting Q3 earnings on Thursday, October 10. Bloomberg Second Measure credit and debit card data show that Domino’s observed sales growth was stable in August versus July at about 3%, though more recent trends suggest a slower exit rate out of Q3, which appears to mirror a slowdown in the broader Pizza category, BofA stated. Applying an unchanged relative P/E multiple to the firm’s EPS 12 months from now results in an upwardly revised target, the analyst tells investors.
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