Nomura Securities Downgrades Papa John's (PZZA) to Neutral

Nomura Securities downgraded Papa John's (NASDAQ: PZZA) from Buy to Neutral but maintains a $70 price target.

Analyst Mark Kalinowski commented, "We downgrade shares of Papa John's (PZZA US) to Neutral (from Buy). Our downgrade is predicated upon multiple factors, including slowing U.S. restaurant industry same-store sales trends during Q2, the possibility of more intense competition from #1 market-share pizza concept Pizza Hut U.S. (owned by YUM! Brands), the possibility of growing risks associated with driver accidents/insurance, and shrinking stock upside relative to our (unchanged) $70 target price. FY16E EPS at $2.37; FY17E EPS at $2.67."

For an analyst ratings summary and ratings history on Papa John's click here. For more ratings news on Papa John's click here.

Shares of Papa John's closed at $66.47 yesterday.

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