Domino's Pizza shares are trading lower after JP Morgan downgraded the stock from Overweight to Neutral but raised its price target from $420 to $430.
Portfolio Pulse from Benzinga Newsdesk
Domino's Pizza (DPZ) shares are trading lower following a downgrade by JP Morgan from Overweight to Neutral, despite an increase in the price target from $420 to $430.
February 27, 2024 | 4:32 pm
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NEGATIVE IMPACT
Domino's Pizza shares declined after JP Morgan downgraded the stock to Neutral from Overweight, but raised the price target to $430.
The downgrade by JP Morgan likely led to a negative sentiment among investors, causing the stock to trade lower. Although the price target was raised, the downgrade from Overweight to Neutral suggests a less bullish outlook on the stock's short-term performance, outweighing the positive impact of the higher price target.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100