Credit Suisse upgrades Domino's Pizza (NYSE:DPZ) to an Outperform rating from Neutral on its view that the company is still one of the "best growth stories" in retail.
"DPZ shares have pulled back sharply from recent highs, despite significant upside to forward earnings around tax reform. With the relative P/E multiple now ~30% below the 2-yr. avg. we believe concerns around a 4Q sales miss and incremental delivery competition are priced in," writes analyst Jason West.
The new price target from CS on Domino's is $220.
Shares of Domino's are up 2.46% in premarket trading to $196.37.
Subscribe for full text news in your inbox