Domino’s Pizza price target lowered to $430 from $480 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Domino’s Pizza (DPZ) to $430 from $480 and keeps a Buy rating on the shares. Domino’s Pizza fell sharply after reporting Q1 results that missed both revenue and EPS expectations and showed weaker-than-expected U.S. same-store sales growth of 0.9%, with performance worsening through the quarter amid macro pressures, higher fuel costs, and increased competition, the analyst tells investors in a research note. Management cut its full-year outlook for same-store sales but maintained store expansion plans, while the selloff reflects both the weaker guidance and concerns about near-term demand, even as longer-term market share drivers remain intact, Goldman says.