Read Why Cowen Downgraded This Pizza Restaurant Chain

by Shivani Kumaresan, Benzinga Staff Writer

April 5, 2022 9:13 AM | 1 min read | Make a Comment

Cowen analyst Andrew Charles downgraded Domino's Pizza Inc DPZ to Market Perform from Outperform with a price target of $390, down from $480, implying a 3.41% downside.
The analyst reduced earnings estimates through 2024 further below consensus, reflecting a disappointing 2022 U.S. franchise opening projection.
Charles is concerned Domino's international openings won't offset the earnings impact of the U.S. shortfall.
Related: Domino's Pizza Q4 Earnings Miss Estimates, CEO Ritch Allison To Retire
Price Action: DPZ shares are trading lower by 2.18% at $395.00 in premarket on the last check Tuesday.