PZZA - Papa John's International Has Got All The Drivers In Place For A Solid '24 Says Analyst | Benzinga
Wedbush analyst Nick Setyan reiterated an Outperform rating on the shares of Papa John's International Inc (NASDAQ: PZZA) and raised the price target from $85 to $87.
Fourth-quarter FY23 North America system wide same-store sales growth of 2% was above the consensus estimate of 1.7%, driven by transaction and ticket growth, says the analyst.
Starting in the second quarter of 2024, franchisees have agreed to increase their national marketing fund contribution from 5% to 6%, notes the analyst.
Between the raised national media spend, consistent ...