Domino's Pizza (DPZ) PT Lowered to $490 at Oppenheimer

Oppenheimer analyst Brian Bittner lowered the price target on Domino's Pizza (NYSE: DPZ) to $490.00 (from $510.00) while maintaining a Outperform rating.

The analyst commented: "We believe DPZ's risk/reward has become highly actionable following its slump since the beginning of July (-21% vs. peers' +1%). Valuation is now consistent with historical troughs despite our belief that SSS trends are positioned to remain above broader QSR peers. While a choppy industry backdrop could cause 3Q/4Q SSS to be slightly below sell-side's high bar, this dynamic appears overly discounted in shares and doesn't represent a major earnings risk factor. DPZ has weapons to take share with incremental drivers in '25 (e.g. DoorDash), and accelerate unit growth above peers, in our view. We've fine-tuned our financial model, and adjust price target to $490 from $510."

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