Jefferies analyst Alexander Slagle says that while Papa John's International's Q3 results were "significantly depressed" as expected given the ongoing negative brand sentiment issues, the quarter was better than feared. The company's trends accelerated into September on new marketing campaign and app download promotions, Slagle tells investors in a research note. Progress is being made, same-store-sales are likely bottoming, and there are "multiple paths leading to further value creation," says the analyst. He raised his price target for Papa John's to $61 from $58 and keeps a Buy rating on the shares.