KeyBanc Downgrades Papa John's (PZZA) to Sector Weight
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
KeyBanc downgraded Papa John's (NASDAQ: PZZA) from Overweight to Sector Weight and removed its price target. Analyst Chris O'Cull thinks its current valuation is reasonable.
"PZZA has reached our price target, and we believe the valuation appropriately reflects investors' expectations for upside to 2017 estimates; therefore, we are moving to a Sector Weight rating. Our SRS and EPS estimates remain unchanged. Our long-term view also remains unchanged —PZZA is likely to continue experiencing mid- to high-teens EPS growth stemming from above-average domestic SRS gains, driven by investments in technology, coupled with greater profit contribution from its burgeoning international segment. Given our positive bias, we would be more constructive on a market-related pullback in shares," said O'Cull.
Shares of Papa John's closed at $86.92 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Pivotal Research Upgrades Flowers Foods (FLO) to Hold
- Finisar (FNSR) PT Raised to $44 at Needham & Company, Estimates Raised Sharply
- MKM Partners Raises Price Target on Broadcom Ltd. (AVGO) to $207 Following 4Q Beat
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!