Domino’s Pizza price target lowered to $395 from $430 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Domino’s Pizza (DPZ) to $395 from $430 and keeps an Equal Weight rating on the shares. In a tougher category with fierce competition, Domino’s has long been the relative leader, but “things seemed to take yet another step down” in Q1, the analyst tells investors. Valuation is “cheap, but not a catalyst alone,” says the analyst, who adds that it is not clear that the company’s leadership position is “incrementally helpful, or will drive upward estimate revisions anytime soon.”