Papa John's Near-Term Outlook Too Appealing To Ignore, Analyst Upgrades To Outperform
Portfolio Pulse from Lekha Gupta
Wedbush analyst Nick Setyan has upgraded Papa John's International Inc (NASDAQ:PZZA) to Outperform from Neutral, raising the price target from $80 to $95. Despite a Q2 FY23 revenue decline of 1.6% Y/Y to $514.53 million, Setyan believes in the company's strategies of menu innovation, effective revenue management, and promotional activity. He expects improved near- to medium-term same-store sales growth, potential for margin expansion, and annualized system sales growth in the medium- to longer-term.
September 01, 2023 | 6:13 pm
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Papa John's has been upgraded to Outperform from Neutral by Wedbush analyst Nick Setyan, with a raised price target of $95. Despite a recent revenue decline, the analyst expects improved sales growth and margin expansion.
The upgrade by Wedbush analyst Nick Setyan is a positive signal for Papa John's. Despite a recent revenue decline, the analyst's belief in the company's strategies and his expectations for improved sales growth and margin expansion suggest a positive outlook for the company's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100