Barclays lowered the firm’s price target on Domino’s Pizza to $370 from $380 and keeps an Underweight rating on the shares. The firm notes Q3 was a mixed quarter, with U.S. and International comparable sales below Street, while adjusted EBITDA and EPS were in-line. Looking ahead, 2024 net unit growth guide was tempered, driven by International, leading to a tempering of worldwide sales and profit guide as well, Barclays adds. The firm believes these challenges will roll into 2025.
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