Papa John’s price target lowered to $96 from $100 at Stifel

Stifel analyst Chris O’Cull lowered the firm’s price target on Papa John’s to $96 from $100 and keeps a Buy rating on the shares as the firm lowered its 2023 EPS estimate to $2.72 from $3.15 following the company’s Q4 report, calling out a higher tax rate, higher interest expense and higher G&A expense as the primary reasons for the EPS estimate reduction.