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PZZA

Papa John's

$45.96

-0.59 (-1.27%)

06:18
07/25/18
07/25
06:18
07/25/18
06:18

Papa John's founder was at odds with company before racial slur, WSJ reports

John Schnatter, founder of Papa John's International, was at odds with the company prior to the board's move to sever formal ties with him following a report that he had used a racial slur, the Wall Street Journal reports, citing people close to the company. Schnatter, who had agreed to resign in December after his criticism of the NFL, had become unhappy with the chain's performance and was constructing a case to depose his chosen CEO successor Steve Ritchie, gain more decision-making power and appear in advertisements for the company. Reference Link

PZZA Papa John's
$45.96

-0.59 (-1.27%)

07/23/18
07/23/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. STIFEL SAYS SELL PAPA JOHN'S: Stifel analyst Chris O'Cull downgraded Papa John's (PZZA) to Sell from Hold and cut his price target for the shares to $38 from $50. The outlook for Papa John's is "growing dimmer" after recent media reports indicated a "fraternal corporate culture," O'Cull told investors. The reports reinforce the consumer perception that Papa John's is not a trusted brand, the analyst added. His recent channel checks indicate the company's domestic same-restaurant-sales are running down in the mid-teens since last week's media report about the company's founder using a racial slur. Papa John's is in a "precarious position," as it needs a "strategic savior" but is struggling to find one "willing to underwrite a transaction given the brand damage," O'Cull contended. Papa John's shares are down 7% in midday trading BTIG SAYS BUY SPOTIFY: BTIG analyst Rich Greenfield initiated Spotify (SPOT) with a Buy rating and a price target of $230, saying that awaiting a better entry on the stock price "has not worked." The analyst contended that the company will be a "long-term winner" in the subscription music category that remains in its infancy and will "grow significantly for years to come." DEUTSCHE RAISES QUALCOMM TARGET TO $60: Deutsche Bank analyst Ross Seymore raised his price target for Qualcomm (QCOM) shares to $60 from $55 after concluding that removal of the uncertainty from the NXP Semiconductors (NXPI) deal likely leads to incremental upside in either scenario. The analyst said he has no way of assigning probabilities of deal approval given the politically charged nature of the pending regulatory ruling from China's State Administration for Market Regulation. Seymore kept Hold ratings on both Qualcomm and NXP. ARGUS CUTS GE TO HOLD: Argus analyst John Eade downgraded General Electric (GE) to Hold from Buy, saying that despite his expectations of a turnaround, Q2 results were a "step in the opposite direction" suggesting the company will struggle to meet its FY18 guidance. Eade lowered his FY18 EPS forecast to 97c from $1.03, adding that GE will need to show at least two quarter of progress before he would reconsider his rating. The analyst prefers other large industrials such as Illinois Tool Works (ITW), United Technologies (UTX) and Boeing (BA) over General Electric, he added.
07/23/18
07/23/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Papa John's (PZZA) downgraded to Sell from Hold at Stifel with analyst Chris O'Cull saying the outlook for Papa John's is "growing dimmer" after recent media reports indicated a "fraternal corporate culture." 2. Buckeye Partners (BPL) downgraded to Sell from Hold at SunTrust with analyst Tristan Richardson saying the latest negative action by Moody's was "quicker than expected" and may lead to a cut in the company's distribution. 3. Walgreens Boots Alliance (WBA) downgraded to Market Perform from Outperform at Cowen with analyst Charles Ryhee saying he views it as poorly positioned in the move toward value-based care and believes the ownership of, rather than a partnership with, an insurance company is necessary to realize the benefits of cost trend improvements. 4. General Electric (GE) downgraded to Hold from Buy at Argus with analyst John Eade saying that despite his expectations of a turnaround, Q2 results were a "step in the opposite direction" suggesting the company will struggle to meet its FY18 guidance. 5. Philip Morris (PM) downgraded to Hold from Buy at Societe Generale. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/23/18
STFL
07/23/18
DOWNGRADE
Target $38
STFL
Sell
Papa John's downgraded to Sell from Hold at Stifel
Stifel analyst Chris O'Cull downgraded Papa John's International to Sell and cut his price target for the shares to $38 from $50. The stock closed Friday up 59c to $51.59. The outlook for Papa John's is "growing dimmer" after recent media reports indicated a "fraternal corporate culture," O'Cull tells investors in a research note. The reports reinforce the consumer perception that Papa John's is not a trusted brand, the analyst adds. His recent channel checks indicate the company's domestic same-restaurant-sales are running down in the mid-teens since last week's media report about the company's founder using a racial slur. Papa John's is in a "precarious position," as it needs a "strategic savior" but is struggling to find one "willing to underwrite a transaction given the brand damage," O'Cull contends.
07/20/18
MAXM
07/20/18
NO CHANGE
Target $285
MAXM
Hold
Domino's Pizza Q2 EPS beat driven by lower tax rate, says Maxim
Maxim analyst Stephen Anderson kept his Hold rating and $285 price target on Domino's Pizza (DPZ), saying the Q2 EPS beat reported yesterday was driven by a lower than expected tax rate. The analyst adds that the company's blended 6.9% increase in comps as well as its royalty revenues also missed projections. Anderson further states that investors will likely be concerned with the slowing momentum internationally, as the two-year stacked comps for overseas markets were the lowest since the late 1990's. The analyst believes that the downside over the near term will be limited amid the recent troubles at Papa John's (PZZA), but prefers a deeper pullback in Domino's Pizza before taking a more constructive stance.

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