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Fly News Breaks for February 19, 2019
PZZA
Feb 19, 2019 | 06:14 EDT
Stifel analyst Chris O'Cull downgraded Papa John's International to Sell and lowered his price target for the shares to $35 from $38. The analyst sees further downside to earnings estimates and believes the current valuation reflects an expectation for a "faster than likely" recovery of EBITDA and cash flows. Papa John's EBITDA could remain "well below historic levels" for a few years as the company will need to continue providing financial support to franchisees, O'Cull tells investors in a research note.
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