Domino’s Pizza price target lowered to $380 from $383 at Loop Capital

Loop Capital lowered the firm’s price target on Domino’s Pizza to $380 from $383 and keeps a Hold rating on the shares. The company’s Q3 earnings beat estimates but its comps missed, and the management now expects global net unit growth this year to come in at the low end or slightly below its 2-3 year outlook for 5%-7% growth, the analyst tells investors in a research note. The stock is trading at 23-times expected forward earnings, below its 5-year average of 28-times, but the discount is warranted given the firm’s concerns the company’s domestic same-store sales may remain sluggish in coming quarters.