In a report released today, Brian Harbour from Morgan Stanley maintained a Buy rating on Domino’s Pizza (DPZ – Research Report), with a price target of $496.00.
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Brian Harbour has given his Buy rating due to a combination of factors that suggest potential growth for Domino’s Pizza. Despite anticipated weaker performance in the US for the fourth quarter and early first quarter due to tough comparisons, Harbour sees opportunities for new sales drivers. Notably, the potential introduction of stuffed crust pizza and the integration with DoorDash as a third-party delivery platform could serve as significant catalysts for sales growth.
Furthermore, Harbour believes that Domino’s is well-positioned in terms of value compared to other quick-service restaurants, offering a competitive edge. The international markets, particularly the Middle East and India, are also expected to perform better, providing an upside to the current market expectations. Berkshire Hathaway’s increased stake in the company further adds to the positive outlook. These factors contribute to Harbour’s optimistic view on Domino’s potential earnings growth and stock performance.
Harbour covers the Consumer Cyclical sector, focusing on stocks such as Brinker International, Chipotle, and Domino’s Pizza. According to TipRanks, Harbour has an average return of 0.1% and a 53.21% success rate on recommended stocks.