Domino’s Pizza price target lowered to $390 from $470 at Bernstein

Bernstein lowered the firm’s price target on Domino’s Pizza (DPZ) to $390 from $470 and keeps a Market Perform rating on the shares. The Q1 performance marks a 180 degrees shift in the firm’s FY26 expectations for Domino’s, despite already flagging that the FY26 top-line guidance was risky when it was announced in Q4, Bernstein says. The firm further states that even if it was worried about the macro and geo-political uncertainty and lower incrementality of the self-help initiatives launched in FY25, Bernstein expected market share gains in the U.S. reflected in sufficient SSSG and this did not happen.