Papa John’s price target lowered to $78 from $86 at BofA

BofA analyst Sara Senatore lowered the firm’s price target on Papa John’s to $78 from $86 and keeps a Buy rating on the shares. Given a slower start to the year in the U.S., the firm lowered its FY24 system same-store sales growth view to down 0.8%, but as an offset it now expects greater year-over-year improvement in North America co-op store margins.