UPDATE: BMO Capital Starts Domino's Pizza (DPZ) at Market Perform
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BMO Capital analyst Andrew Strelzik initiates coverage on Domino's Pizza (NYSE: DPZ) with a Market Perform rating and a price target of $400.00.
The analyst comments "We are initiating coverage of Domino’s Pizza at Market Perform and a $400 target price, which implies 5-10% upside. We believe a patient approach is warranted as the lack of visibility into the cadence and trajectory of DPZ’s “return to normal” likely will limit upside for now. We also don’t see a compelling DPZ-specific valuation case to own shares into challenging comparisons. Longer term, though, we view favorably DPZ’s strategy, outlook, and opportunities. Our 2021/2022 estimates largely are in line with consensus and our target implies ~21x our 2022E EBITDA."
Shares of Domino's Pizza closed at $371.84 yesterday.
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