It's time for investors to take a slice out of the Domino's Pizza pie, according to UBS.
It's time for investors to take a slice out of the Domino's Pizza pie despite concerns of slowing demand for the pizza maker, according to UBS. Analyst Dennis Geiger upgraded shares of the fast food stock to buy from neutral, saying in a note to clients that the valuation looks attractive compared to its peers and that demand should hold up even in an uncertain consumer spending environment.
He expects price increases and campaigns to improve staffing shortages to serve as potential catalysts for sales in the near future. "DPZ is positioned as a value leader, with elevated brand loyalty, which should support above avg. resiliency and contribute to strong global system sales growth of ~6-10%, including ~6-8% global unit growth," he said. UBS trimmed its price target by roughly 10% to $385 from $430 a share to reflect higher rates.
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