Loop Capital analyst Alton Stump lowered the firm’s price target on Papa John’s (PZZA) to $60 from $73 and keeps a Buy rating on the shares. The firm cites the company’s negative pre-announcement calling for Q4 comps to fall 4% as its franchised comp performance was unfavorable to the down 2.5%-3.0% range that Loop’s latest checks published in November picked up through the third week of the month, the analyst tells investors in a research note.
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Read More on PZZA:
- Papa John’s price target lowered to $42 from $55 at Jefferies
- Papa John’s Celebrates 6,000th Restaurant Amid Sales Challenges
- Papa John’s reports preliminary Q4 North America comparable sales down 4%
- Papa John’s sees FY24 North America comparable sales down 4%
- Papa John’s price target lowered to $45 from $56 at UBS
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