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Fly News Breaks for November 7, 2019
PZZA
Nov 7, 2019 | 09:08 EDT
BTIG analyst Peter Saleh raised his price target on Papa John's to $67 and kept his Buy rating after its Q3 results, saying the quarter was one of its strongest in years. The analyst cites North America same-store sales moving to positive for the first time in two years along with the company's "significant expansion" in restaurant margins. Saleh adds that franchise economics remain under pressure, but he believes Q3 marked the "turning point" as sales turned positive and unit economics likely followed.
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