Papa John’s price target raised to $56 from $47 at UBS

UBS raised the firm’s price target on Papa John’s (PZZA) to $56 from $47 and keeps a Neutral rating on the shares. Q3 results highlighted continued same-store sales pressures, with an earnings call emphasis on strategic plans to improve results into 2025, notes the analyst, who argues that improved same-store sales growth and visibility into unit growth is needed for upside.