Papa John’s price target lowered to $58 from $60 at Stephens

Stephens lowered the firm’s price target on Papa John’s (PZZA) to $58 from $60 and keeps an Overweight rating on the shares. The company reported Q4 results in-line with the ICR pre-release and debuted FY25 guidance that came in ahead of consensus at the mid-point on domestic and international same-store sales, but was modestly behind expectation on adjusted EBITDA, the analyst tells investors. The firm believes Q1 softness was “well communicated by the company,” and its focus is on an emerging catalyst path supported by sequentially accelerating comp trends for the North America business in FY25, the analyst added.