Evercore ISI believes that Domino’s Pizza’s Q4 same-store sales trends have started slowly and comparisons remain difficult through the quarter, but notes that the company believes it has strong Q4 marketing, including an updated/enhanced Emergency Pizza “2.0” deal. Following Q3 earnings and the firm’s call-back with management, the firm maintains its Q4 U.S. same-store sales growth estimate of 2% and its operating profit estimates, while it maintains a $480 price target and Outperform rating on the shares and removes Domino’s from the Evercore ISI “Tactical Underperform” list.
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