UPDATE: Northcoast Research Downgrades Papa John's (PZZA) to Neutral
Northcoast Research analyst Jim Sanderson downgraded Papa John's (NASDAQ: PZZA) from Buy to Neutral.
The analyst comments "We are lowering our rating on Papa John’s from BUY to NEUTRAL, concerned that growing macroeconomic headwinds, along with continued inflationary and competitive pressures in the US will limit near-term upside. Though encouraged by the turn-around Papa John’s new management team implemented in 2019 and through the pandemic, we believe sales and earnings momentum will be increasingly difficult to generate going forward."
Shares of Papa John's closed at $75.52 yesterday.
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