Loop Capital keeps a Buy rating and $114 price target on Papa John’s. The analyst notes that its previous U.S. franchisee checks indicated that same-store sales decelerated from 1.5%-2.0% in July to flat to up 0.5% during the first three weeks of August, but its latest round suggests that comps reaccelerated to 1.5%-2.0% growth over the last six weeks of 3Q. This implies domestic franchised same-store sales were up about 1.5% for full-Q3, which is “modestly above” consensus of 1.1%.
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