UPDATE: Goldman Sachs Upgrades Domino's Pizza to Buy on Fundamentals and Inflation Exposure
Goldman Sachs raised its rating on Domino's Pizza (NYSE: DPZ) from Neutral to Buy and increased its price target from $34 to $40.
Goldman Sachs said, "We upgrade shares of DPZ to Buy from Neutral and add them to the Conviction List with 21% upside to our $40, 12-month price target. We believe DPZ is in the “Fountain of Youth” stage of its life cycle with emerging market expansion driving a renewed leg of growth. Between accelerating overseas unit expansion, stable SSS, and structural margin improvement, we see the potential for DPZ to compound earnings at a midteens rate going forward. In addition, given DPZ's 95% franchised model, it is mostly insulated from any potential reacceleration of food inflation and should see minimal fixed cost de-leverage in the event of a macro slowdown."
Domino's Pizza closed at $32.96 on Tuesday.
Latest Ratings for DPZ
Date | Firm | Action | From | To |
---|---|---|---|---|
Mar 2022 | Loop Capital | Downgrades | Buy | Hold |
Mar 2022 | Guggenheim | Maintains | Neutral | |
Mar 2022 | Citigroup | Maintains | Neutral |
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Posted-In: Conviction Buy List Goldman SachsAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings