PZZA - Papa John's catches bull rating from Deutsche Bank on post-pandemic confidence

There is interesting timing on a Deutsche Bank upgrade on Papa John's International (PZZA).The firm moves to a Buy rating from Hold on what it sees as a favorable risk/reward profile even with Pfizer's vaccine announcement yesterday providing a jolt to the restaurant sector (dine-in names higher and delivery favorites lower).DB on Papa John's: "As it stands today, the narrative on the stock largely revolves around whether or not PZZA's domestic SSS will inevitably decelerate meaningfully from here, leading to potentially negative comps for at least a few quarters next year as it laps particularly tough COVID compares."The firm assigns a price target of $91 to PZZA to rep 18% upside potential.PZZA +0.63% premarket to $77.80.See all the Wall Street ratings on Papa John's.

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Papa John's catches bull rating from Deutsche Bank on post-pandemic confidence