BTIG Lifts PT on Domino's Pizza (DPZ) to $195 Following Q3 Numbers; Notes Strong Digital Platform Leverage
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BTIG lifts its price target on Domino's Pizza (NYSE: DPZ) from $164 to $195 following strong Q3 results issued Tuesday morning.
The firm noted today,
This quarter further demonstrates Domino’s ability to leverage its digital platform to consistently take market share in a mature, slow growth category. We continue to believe that digital innovation, an enhanced customer experience, and the brand’s ability to leverage the cost of digital across more than 5,200 domestic stores is a competitive advantage not easily replicated by peers. We remain impressed by the concept’s ability to drive further sales gains and expect this momentum to continue
While digital ordering and loyalty continue to drive sales, we believe the underappreciated dynamic is the lower ordering costs, which give the large chains a significant advantage.
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