Domino’s Pizza downgraded to Hold from Buy at TD Cowen

TD Cowen analyst Andrew Charles downgraded Domino’s Pizza (DPZ) to Hold from Buy with a price target of $460, down from $500. The firm is “pleased” with Domino’s robust U.S. same store sales growth in Q2 and Q3 and appreciates management’s agility in introducing new price point value offerings to improve traffic, but the strategy has shifted more in this direction than expected, the analyst tells investors in a research note.