Stephens analyst Joshua Long reiterated an Overweight rating and $95 price target on Papa John’s after the company announced the departure of CFO Ann Gugino. The firm generally believes unexpected leadership changes can be disruptive, though it also recognizes that each situation is unique. Looking to Papa John’s, the brand is in a meaningfully stronger position across revenue, profitability, and unit growth metrics versus a few years ago when the current team was assembled, Stephen said, adding that it is "encouraged" by momentum following channel checks.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on PZZA:
- Papa John’s CFO Ann Gugino to step down effective March 22
- Papa John’s price target raised to $86 from $80 at Deutsche Bank
- Papa John’s to repurchase 2,176,928 shares from Starboard for $82.52 per share
- Papa John’s chairman Jeffrey Smith resigns, Christopher Coleman succeeds
- Papa John’s price target lowered to $96 from $100 at Stifel
