Wedbush lowered the firm’s price target on Domino’s Pizza (DPZ) to $470 from $510 and keeps an Outperform rating on the shares. The firm reduced Q3 domestic same-store-sales growth estimate as Domino’s digests the impact of the burger’s “aggressive pivot to value.” The buyer’s focus on value, led by McDonald’s (MCD), will limit Domino’s transaction share gains in the second half of 2024, the analyst tells investors in a research note. Therefore, the firm removed Domino’ from the Wedbush Best Ideas List.
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