UPDATE: Miller Tabak Upgrades Domino's Pizza; Raises PT
According to a research report published earlier today, Miller Tabak has upgraded Domino's Pizza (NYSE: DPZ) from Hold to Buy, and increased PT from $38 to $41.
In the report, Miller Tabak commented, "We upgrade our rating on Domino's Pizza (DPZ) to Buy (Hold) and our price target to $41 (from $38) based on our outlook for sustained mid-to-high single-digit comp growth in 2012, a return to new unit expansion in the U.S. in 2013, and further margin expansion in the next two years. Specifically, we expect new menu items to continue to provide underlying strength to DPZ's domestic results, and we think the new Android ordering app is providing a secondary catalyst for comp growth."
Domino's Pizza closed Friday at $35.47.
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