KeyBanc analyst Chris O’Cull upgraded Papa John’s Int’l, Inc. (NASDAQ:PZZA) from Sector Weight to Overweight.
The analyst believes that civil and political disruptions that have negatively impacted restaurant dining may actually be helping pizza operators that deliver to consumers.
O’Cull states, “We expect this phenomenon will play out at least through the general election in November and, in our view, could lead to upward EPS revisions over the next few quarters.”
The analyst believes near-term EPS will benefit from accelerating SRS performance and will counterbalance investor concerns that unit growth has slowed.
The analyst issues price target of $80.00
According to TipRanks, the consensus price target for PZZA is $69.33, marking a 0.30% upside from current prices.