Domino's Pizza (DPZ) PT Raised to $290 at JPMorgan
JPMorgan analyst John Ivankoe raised the price target on Domino's Pizza (NYSE: DPZ) to $290.00 (from $270.00) while maintaining a Overweight rating following the company's 1Q earnings report. DPZ reported 1Q19 EPS of $2.20 vs $2.00 estimate and $2.00 reported in 1Q18. Domestic SSS of 3.9% was ahead of 3.0% expectations, while International SSS was 1.8% vs 1.5% estimate.
Comparisons ease throughout the year and DPZ retains the ability to take “smart pricing” on delivery fees while maintaining its sustainably low-cost delivery model. If DPZ were to increase its average delivery fee from the current $2.99 to $3.99, comps in that store would increase by ~3.0%.