Papa John’s price target lowered to $65 from $75 at BMO Capital

BMO Capital lowered the firm’s price target on Papa John’s to $65 from $75 but keeps an Outperform rating on the shares after its Q2 results. The company is a “brand in transition” amid a challenging period, and performance likely will not improve quickly as new management develops and implements its strategy, but the stock remains “unsustainably inexpensive”, and BMO remains confident in the company’s opportunity to deliver stronger performance, the analyst tells investors in a research note.