20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Domino's Pizza Inc.’s (NYSE:DPZ) demand weakness concerns seem "overblown," according to UBS analyst Dennis Geiger.
The Analyst: Geiger upgraded the rating for Domino's Pizza from Neutral to Buy, while reducing the price target from $430 to $385.
The Thesis: Current catalysts could accelerate U.S. sales, and Domino's has a compelling long-term growth profile. Proprietary checks suggest that there is strong demand, Geiger said.
Check Out Other Analyst Stock Ratings.
“We see near-term catalysts to accelerate DPZ sales from: expected upcoming price increases on select promos, efforts to improve driver staffing shortages, and potential 3P delivery partnerships,” Geiger wrote. "Additionally, we believe DPZ should exhibit above avg resiliency in a pressured spending environment given leading value positioning and a very affordable dinner option for families."
The price target has been lowered due to reduced earnings estimates for 2022 and 2023 to $12.47 per share and $14.67 per share, respectively, to reflect macro challenges and forex effects, Geiger explained.
See Also: Domino's Analyst Says There's No 'Pizza Fatigue,' Turns Bullish
DPZ Price Action: Shares of Domino's Pizza had risen by 4.21% to $329.44 at the time of publication Tuesday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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