DPZ - Domino's and Papa John's Both Have More Upside Says Longbow Analyst
Longbow analyst Alton Stump has raised the firm's share price targets on Domino's Pizza (NYSE: DPZ) and Papa John's International (NASDAQ: PZZA) to $441 and $95, respectively, representing almost 20% upside from current prices on each. Both pizza chains have been giving interim business updates due to their notable increases in sales as people have been sheltering at home to help stem the spread of COVID-19.
Stump noted that both companies reported a "sharp acceleration" in comparable store sales for the first eight weeks of the second quarter. The analyst said the target price boosts reflect the fact that both companies will "benefit significantly from the current environment."
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