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Fly News Breaks for November 7, 2019
PZZA
Nov 7, 2019 | 07:04 EDT
Credit Suisse analyst Lauren Silberman raised her price target for Papa John's to $66 following the company's quarterly results, saying she expects new CEO Rob Lynch to leverage his experience with the Arby's turnaround to develop a strategy for Papa John's, including a focus on improving franchisee relationships and profitability, enhancing the marketing strategy, increasing the pipeline of new menu innovation and leveraging data analytics to drive decisions. She believes accelerating SSS, margin expansion, strategic optionality and seasoned executive leadership should help support the premium multiple and potentially an even faster recovery. Silberman keeps an Outperform rating on the shares.
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