KeyBanc lowered the firm’s price target on Papa John’s to $90 from $92 and keeps an Overweight rating on the shares. While KeyBanc believes sentiment remains largely negative fueled by the absence of EPS growth this year, the potential for negative earnings revisions, management turnover, and limited confidence in unit growth targets, the firm thinks the risk/reward skews positive for those willing to look past near-term volatility.
Published first on TheFly
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