Papa John's Reinvents Itself: Analyst Breaks Down Frustrations Outlines Opportunities
Portfolio Pulse from Shivani Kumaresan
Stephens analyst Joshua Long reiterated an Overweight rating on Papa John's International, Inc. (NASDAQ:PZZA) with a price target of $90. The analyst revised 3Q23E adjusted EPS estimate from $0.60 to $0.57 and 3Q23E EBITDA from $54.5 million to $53.2 million. The company's efforts to rebuild service, innovation, and execution capabilities in partnership with franchise operators were highlighted. The recent appointment of a new CFO and Chief Marketing Officer is expected to be beneficial in the long run. The company's shares are currently trading lower by 1.33% at $76.38.
August 31, 2023 | 5:21 pm
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POSITIVE IMPACT
Papa John's International, Inc. has been given an Overweight rating by Stephens analyst Joshua Long, with a price target of $90. The company's efforts to rebuild service, innovation, and execution capabilities were highlighted.
The Overweight rating and the price target of $90 given by the analyst indicate a positive outlook for the company. The company's efforts to rebuild service, innovation, and execution capabilities, along with the recent appointment of a new CFO and Chief Marketing Officer, are expected to drive growth. However, the company's shares are currently trading lower, which might be a temporary reaction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100