Domino’s target lowered, removed from ‘Tactical Underperform’ list at Evercore

Evercore ISI analyst David Palmer lowered the firm’s price target on Domino’s Pizza (DPZ) to $370 from $415 and keeps an Outperform rating on the shares, which he is removing from the firm’s "Tactical Underperform" list following the company’s Q4 earnings report and associated 12% selloff. While trimming unit growth and EPS expectations by roughly 15% and 8%, respectively, for the next two years, the analyst contends that the stock’s modest discount to Yum! Brands (YUM) and McDonald’s (MCD) "seems to fairly reflect" Domino’s delivery troubles and slower unit growth.