Stephens resumed coverage of Domino’s Pizza with an Equal Weight rating and $479 price target. The company has provided an approachable bridge to delivering FY24 same-store sales north of the 3% algorithm, and the firm also sees “positive green shots” on domestic development for Domino’s Pizza, the analyst tells investors in a research note. The firm adds however that it remains early on in the company’s transformation process, and Stephens is waiting for greater visibility into the timing and magnitude surrounding the company’s near- term initiatives.
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