UPDATE: Goldman Sachs Removes Domino's Pizza From CL-Buy, Stating Growth is Intact, but Stock has 'Run'
Goldman Sachs analyst Michael Kelter downgraded Domino's Pizza (NYSE: DPZ) from CL-Buy to Buy and raised the price target from $56.00 to $60.00.
Kelter stated in the report that, "We are removing DPZ from the Americas Conviction List, as the shares have approached our prior price target. Since being added to the Americas Conviction List on 07/24/2012, DPZ is up 52% vs. a 17% increase in the S&P 500. Over the past 12 months, DPZ is up 35% vs. an 11% increase for the S&P 500."
Following the note, Domino's shares fell 1.27 percent to $49.01 in pre-market trading.
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