UPDATE: Stifel Raises Price Target On Domino's Pizza As Global Growth Appears Strong

In a report published Thursday, Stifel analyst Paul Westra reiterated a Buy rating on Domino's Pizza, Inc. (NYSE: DPZ), and raised the price target from $107.00 to $112.00.

In the report, Stifel noted, “We reiterate our Buy rating on DPZ shares after DPZ held an upbeat Analyst Day in Orlando, FL, which followed the company's participation in the two-day ICR Conference, and where, from a long-term investment perspective, it appears that DPZ's strong global operating momentum remain solidly on track. From a short-term perspective, we reduce our 2015/2016 EPS outlook by -$0.05 to $3.40E (vs. consensus' $3.43E; our prior $3.45E) largely due a greater 2015 ForEx impact of -$0.10E (vs. our prior -$0.05E)) – and where our updated model now incorporates largely offsetting new 2015 mgt guidance for (i) an accelerated unit-growth outlook (+$0.03E) and (ii) lower food-cost inflation (+$0.04E); offset by (iii) higher net G&A investments (-$0.07E) – relative to our prior outlook. We adjust our 2016 EPS to $4.00 (vs. consensus' $3.93E; prior $4.10). We adjust our Price Target to $112/sh based on 2016 profitability and a higher long-term unit-growth outlook (vs. prior $107/sh).”

Domino's Pizza closed on Wednesday at $98.91.