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Benzinga
Benzinga
Business
Shivani Kumaresan

Read Why Cowen Downgraded This Pizza Restaurant Chain

Cowen Domino Andrew Charles DPZ Ritch Allison NYSE United States
  • Cowen analyst Andrew Charles downgraded Domino's Pizza Inc (NYSE:DPZ) to Market Perform from Outperform with a price target of $390, down from $480, implying a 3.41% downside.
  • The analyst reduced earnings estimates through 2024 further below consensus, reflecting a disappointing 2022 U.S. franchise opening projection.
  • Charles is concerned Domino's international openings won't offset the earnings impact of the U.S. shortfall.
  • Related: Domino's Pizza Q4 Earnings Miss Estimates, CEO Ritch Allison To Retire
  • Price Action: DPZ shares are trading lower by 2.18% at $395.00 in premarket on the last check Tuesday.
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