As previously reported, MKM Partners analyst Brett Levy started Papa John's International with a Buy rating and $55 price target. The analyst is optimistic about the company's "competitive positioning, operational capabilities, and profitability" along with its capital and growth algorithm. Levy adds that while the favorable comps due to recent operating shortfalls are not enough to support a favorable view, the challenges should not hold investors back, as Papa John's looks to leverage its third-party partnerships, loyalty programs and technology to deepen its customer reach.