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Fly News Breaks for November 7, 2019
PZZA
Nov 7, 2019 | 07:21 EDT
MKM Partners analyst Brett Levy downgraded Papa John's to Neutral from Buy but raised his price target to $60, up from $55, following its in-line Q2 earnings and affirmed FY19 guidance. The analyst notes that the company has generated its first positive domestic comps in two years while laying the foundation for a "potential turnaround", but after a 43% run-up in the stock price since August 23rd, he believes the valuation warrants a neutral stance.
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