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Fly News Breaks for July 17, 2019
DPZ
Jul 17, 2019 | 07:06 EDT
JPMorgan analyst John Ivankoe views the 13% pullback in shares of Domino's Pizza over the past two days as overdone. He believes the stock should be bought at current levels. The analyst lowered his price target for Domino's to $270 from $290 following the company's Q2 results and keeps an Overweight rating on the name. Ivankoe sees sustainable same-store-sales growth at least in line with peers at 2%-3%, noting this is at the lower end of the company's guided 3%-6% range. Domino's deserves to trade at a multiple on top of its peers, Ivankoe tells investors in a research note.
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