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Fly News Breaks for September 4, 2019
DPZ
Sep 4, 2019 | 09:19 EDT
Guggenheim analyst Matthew DiFrisco believes the 20% pullback in Domino's Pizza shares since mid-July factors in the likelihood of U.S. same-store sales running below the long-term target range in the near-term and he recommends buying shares ahead of the company's Open House on September 6 as he expects the company to maintains its long-term 8-12% retail growth target. While he keeps a Buy rating on the stock, DiFrisco has reduced his near-term same-store growth view to reflect third party delivery "encroachment" and cut his price target on Domino's shares to $280 from $295 as he assumes a peer multiple.
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