PZZA - Papa John's International attracts upgrade from Northcoast on unit growth potential

Northcoast Research fired off an upgrade on Papa John's International (PZZA +0.4%) to a Buy rating after having the pizza stock lined up an Neutral. Analyst Jim Sanderson: "We believe Papa John’s continues to exceed expectations, driving sales growth which has continued through the current period. Driving this performance is solid marketing keeping consumers engaged with the brand." The view from Northcoast is that development remains a long-term valuation driver for Papa John's International (NASDAQ:PZZA), which is seen supporting unit growth at a mid-single digits rate as the brand takes share from smaller independent operators forced to shutter their doors permanently. Wall Street analyst scorecard on PZZA: 11 Buy-equivalent ratings or higher, 5 Hold-equivalent ratings and no Sell-equivalent ratings. Papa John's (PZZA) is expected to post earnings later this month. See the consensus expectations.

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Papa John's International attracts upgrade from Northcoast on unit growth potential