Pan Pizza's Fizz
Analyst Peter Saleh estimates that pan pizza accounts for roughly 20 percent of the U.S. pizza category. The analysts noted that Domino's Pizza, Inc.DPZ, which had launched its own pan pizza in September 2012, saw both its sales and traffic increase, with the product contributing at least 100–200 basis points to comps.
Papa John's To Benefit On Top, Bottom Line
BTIG believes Papa John's could see a similar benefit in the coming quarters. Accordingly, the firm raised its fourth quarter comp. estimates by 50 basis points and that for 2017 by 80 basis points. Given expectations for stronger sales, the firm raised its 2017 earnings per share estimate to $2.76 from $2.72.
BTIG has a Buy rating and a $87 price target on the shares of Papa John's.
At the time of writing, Papa John's shares were up 2.21 percent at $77.53.
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