Stephens analyst Joshua Long reiterated an Overweight rating on the shares of Papa John's International, Inc. (NASDAQ: PZZA) and a price target of $90.
The analyst revised 3Q23E adjusted EPS estimate from $0.60 to $0.57 and 3Q23E EBITDA from $54.5 million to $53.2 million.
For FY23E, Adjusted EPS estimate was revised from $2.71 to $2.64, and EBITDA estimate from $226.6 million to $223.7 million.
With the COVID-19 induced environment normalizing, the analyst is observing outward signs of the company's efforts to rebuild service, innovation, and execution capabilities in partnership with franchise operators.
There has been some frustration in recent quarters from investors and franchisees as results on a ...