PZZA - Papa John's +2% after Oppenheimer calls out compelling entry point

Oppenheimer upgrades Papa John's International (PZZA) to an Outperform rating after taking in the 25% pullback in share price and calling the risk-reward entry compelling.Analyst Brian Bittner: "We believe the market overly discounts the potential loss of COVID-era financial gains, discredits new mgmt's operational playbook and underappreciates catalysts for a powerful unit growth cycle."Valuation is said to have melted to an attractive discount (16.9X EBITDA vs. peers' 19X) and PZZA is noted to represent a prime takeout candidate.Oppenheimer assigns a price target of $96 to rep more than 25% upside potential.PZZA +1.95% premarket.See the value grades on Papa John's.

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Papa John's +2% after Oppenheimer calls out compelling entry point