Domino’s Pizza upgraded to Buy at Argus on further growth prospects

As previously reported, Argus analyst John Staszak upgraded Domino’s Pizza to Buy from Hold with a $530 price target. The firm is positive on the company’s economies of scale, early entry into the pizza delivery business and prospects for growth in international and domestic markets, the analyst tells investors in a research note. Argus also cites Domino’s Pizza’s above-average margins, history of positive earnings surprises, and plans to open new stores over the next several years, raising its FY24 EPS view to $16.50 from $15.00 and setting a FY25 target of $18.00 per share.