Fly News Breaks for May 22, 2017
PZZA
May 22, 2017 | 08:19 EDT
After speaking with Papa John's franchisees, Longbow analyst Alton Stump estimates that the company's U.S. system-wide comp sales have risen 2.5%-3% so far this quarter, versus the consensus outlook of a 2.2% increase. The analyst says that comp sales were boosted by the company's expanded partnership with MLB and its two medium, two topping pizzas for $6.99 each promotion. Stump is now more confident that the company is recovering from its weaker than expected domestic comp performance in late 2016 and early 2017. He expects it to continue to gain share and keeps a $95 price target and a Buy rating on the stock.
News For PZZA From the Last 2 Days
PZZA
Apr 22, 2024 | 04:47 EDT
Stifel analyst Chris O'Cull upgraded Papa John's to Hold from Sell with a price target of $60, down from $65. The analyst believes near-term expectations are reasonable. Given the stock's negative sentiment and recent market volatility, the firm decided to move to the sidelines. However, Stifel continues to believe Papa John's is in a "challenging competitive position in a tough category."
