UPDATE: Goldman Sachs Initiates Coverage on Domino's Pizza
According to a research report published this morning, Goldman Sachs has initiated Domino's Pizza (NYSE: DPZ) with a Neutral rating and $35 PT.
In the report, Goldman Sachs said, "We see DPZ as being in the “Fountain of Youth” phase of its lifecycle, with emerging markets likely to provide growth for many years to come. India, in particular, appears to be on pace to reach 10% of all DPZ units by 2015. We introduce a Neutral rating, however, due to uncertainty in the US, still a meaningful driver of DPZ's financial results. The US pizza delivery market is shrinking, periods of outperformance (as DPZ just experienced) tend to be fleeting, and our surveys suggest the Domino's brand is weak relative to competitors."
Domino's Pizza closed yesterday at $30.71.
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Tags: Goldman Sachs