Domino’s Pizza price target raised to $420 from $360 at Evercore ISI

Evercore ISI analyst David Palmer raised the firm’s price target on Domino’s Pizza (DPZ) to $420 from $360 and keeps an Outperform rating on the shares. The firm is increasing its 2024 and 2025 U.S. same-store sales growth forecasts to reflect the benefit of third-party delivery site marketing following the Uber Eats (UBER) announcement, noting that its 2024 and 2025 growth estimates are now 4% and 3%, respectively, which is ahead of consensus calling for 2% growth in same-store sales in both years.