Northcoast downgrades Papa John’s, sees limited near-term upside

Northcoast analyst Jim Sanderson downgraded Papa John’s to Neutral from Buy with no price target, citing his concern that growing macroeconomic headwinds, continued inflationary pressures and competition in the U.S. will limit near-term upside. While "encouraged" by the turn-around Papa John’s new management team is implementing, he sees sales and earnings momentum being "increasingly difficult to generate going forward," the analyst tells investors.