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PZZA

Papa John's

$57.97

-0.49 (-0.84%)

07:58
11/04/19
11/04
07:58
11/04/19
07:58

Papa John's downgraded to Hold from Buy on valuation at Jefferies

Jefferies analyst Alexander Slagle downgraded Papa John's International to Hold from Buy with an unchanged price target of $58. The company is on the path to recovery, but the stock now reflects this trajectory as well as the potential for its same-store-sales to turn modestly positive in Q4 and 2020, Slagle tells investors in a research note. Further, the analyst believes "material upside" to sales seems unlikely given competitive headwinds in the space. As such, he views Papa John's risk/reward as fair at current share levels.

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PZZA Papa John's
$57.97

-0.49 (-0.84%)

10/23/19
10/23/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Golden Entertainment (GDEN) initiated with an Overweight at JPMorgan. 2. Endava (DAVA) initiated with a Positive at Susquehanna. 3. Verint (VRNT) initiated with a Buy at Needham. 4. Papa John's (PZZA) initiated with a Buy at CL King while Domino's Pizza (DPZ) was initiated with a Neutral. 5. Oportun Financial (OPRT) initiated with an Outperform at JMP Securities. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/24/19
NRCS
10/24/19
NO CHANGE
Target $70
NRCS
Buy
Papa John's checks show solid U.S. same-store sales improvement, says Northcoast
Northcoast analyst Jim Sanderson reiterates his Buy rating and $70 price target on Papa John's after his recent checks lead him to believe U.S. franchise operators are experiencing "solid" improvements in same-store sales ranging from mid-single-digits to low double-digits percent in Q3. His checks also show expectations for Q4 remain "cautiously optimistic," Sanderson tells investors.
10/29/19
BTIG
10/29/19
NO CHANGE
Target $62
BTIG
Buy
Papa John's price target raised to $62 from $54 at BTIG
BTIG analyst Peter Saleh raised his price target on Papa John's to $62 and kept his Buy rating, saying the company's "turnaround" is starting to "take shape" under the leadership of a new CEO and CMO. The analyst believes that Papa John's will focus more on its national ads and menu innovation, adding that it should be able to pick "long-hanging" operational and restaurant margin opportunities. Saleh also raises his Papa John's expected FY20 EPS view by 14c to $1.46.
11/04/19
JEFF
11/04/19
DOWNGRADE
Target $58
JEFF
Hold
Papa John's downgraded to Hold from Buy at Jefferies
Jefferies analyst Alexander Slagle downgraded Papa John's International to Hold from Buy with a $58 price target.

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