Baird Upgrades Domino’s Pizza to Outperform, Raises Target to $400

Baird upgraded Domino’s Pizza (DPZ) to Outperform on Friday and raised its price target to $400 from $320, pointing to a stronger outlook for same-store sales and franchisee profitability.

Domino’s U.S. same-store sales rose 0.3% in the third quarter, while revenue increased 3.4% to $1.1856 billion. Net income climbed 9.2% to $152.2 million, and diluted earnings per share rose 12.7% to $4.60, as detailed in TokenPost’s earlier coverage of the company’s third-quarter results.