Papa John’s price target raised to $84 from $80 at KeyBanc

KeyBanc analyst Eric Gonzalez raised the firm’s price target on Papa John’s to $84 from $80 and keeps an Overweight rating on the shares. Papa Johns’ Q4 results included better-than-anticipated flow-through on previously announced same-store sales growth metrics, and while the company’s 2024 guidance implies EPS will fall slightly below consensus forecasts, KeyBanc believes the outlook is more in line with investor expectations and could prove conservative given current initiatives, the analyst says in a research note.