J.P Morgan Downgrades Domino’s Pizza, Eyes On UberEats Launch
J.P Morgan analyst John Ivankoe downgraded Domino’s Pizza Inc (NYSE:DPZ) to Neutral from Overweight, raising the forecast to $430 from $420.
Domino’s registered global retail sales growth (excluding foreign currency impact) was 4.9% for the fourth quarter.
Per the analyst, Domino’s has been an idiosyncratic improving top-line growth story in a broadly decelerating environment (mostly pricing-driven).
The stock has been downgraded based on the simple proposition that it is now fully priced in the shares.
Overall, improvements in customer-facing tech, store operations, a new loyalty program, and the fourth quarter Uber Technologies, Inc.’s (NYSE:UBER) UberEats will result in an accelerating comp + unit growth outlook through F28 in a broadly decelerating sector.
BMO Capital Markets analyst Andrew Strelzik reiterated an Outperform rating on …
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