BTIG analyst Peter Saleh warns that a sale of Papa John's International (PZZA -3.1%) could be difficult even with the share price decline. Saleh says the "ongoing boardroom drama" that's in full swing with ex-CEO John Schnatter still fighting for control could scare off any potential acquirers. Meanwhile, Jefferies thinks a turnaround by Papa John's to positive same-store sales growth won't be seen until the second half of next year.
Shares of Papa John's tracked to a multi-year low of $38.06 earlier this morning, while rival Domino's Pizza is showing off a 49% YTD return.
Previously: Papa John's International -8% after soft guidance (Aug. 7)
Previously: Papa John's misses by $0.05, misses on revenue (Aug. 7)
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