Papa John\'s (PZZA) PT Raised to $135 as Oppenheimer Sees SSS Upside
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Oppenheimer analyst Brian Bittner raised the price target on Papa John\'s (NASDAQ: PZZA) to $135.00 (from $125.00) while maintaining a Outperform rating after recent industry data points increase the analyst's confidence that SSS appear mis-modeled for the rest of '21.
The analyst stated "Street assumes decelerating two-year SSS in 2Q21E and sequentially lower average-weekly sales,
despite Domino's Pizza (NYSE: DPZ) (and others) displaying the opposite. PZZA also possesses idiosyncratic catalysts that peers lack including impactful menu innovation and an unprecedented amount of new digital customers."
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