Papa John’s price target lowered to $85 from $102 at Oppenheimer

Oppenheimer lowered the firm’s price target on Papa John’s to $85 from $102 and keeps an Outperform rating on the shares. Same-store sales trends in Q3 solidly outpaced consensus, and management sees a continuation of positive North America comps in Q4, but international dynamics pressured overall operating margins and drove Q3 EPS downside, the analyst tells investors in a research note.