On June 18, Peter Saleh of BTIG raised his target price for Domino’s Pizza (DPZ) from $290 to $310 and maintained his “buy” rating on the stock. The new price target represents a return potential of 10.0% from its current stock price.
Other analysts’ recommendations
Of the 20 analysts that follow Domino’s, 55% favor a “buy,” and 45% favor a “hold.” On average, analysts are expecting Domino’s stock to reach $276.39 in the next 12 months, which represents a fall of 1.9% from its current stock price.
On June 15, Stifel raised its price target from $275 to $300, while Citigroup raised its price target from $232 to $281 on June 14. Since the announcement of Domino’s first-quarter earnings on April 26, Guggenheim, Barclays, Jeffries, Morgan Stanley, Deutsche Bank, and Mizuho have all raised their target prices for Domino’s. However, on June 8, Maxim Group downgraded the stock from “buy” to “hold” and maintained its price target unchanged at $270.
Domino’s stock price moves in tandem with analysts’ ratings. When analysts raise their target price, the stock price of the company moves up, and vice versa. Currently, Domino’s is trading above analysts’ 12-month price target. However, this doesn’t mean an automatic “sell.” Investors should analyze analysts’ estimates, which we’ll discuss in our next article, before making investment decisions.
The price target and return potential of Domino’s peers are as follows:
- Papa John’s (PZZA) has a price target of $61.60 with a return potential of 18.3%.
- Yum! Brands (YUM) has a price target of $88.11 with a return potential of 6.4%.
Next, we’ll look at Domino’s stock performance.