RBC Capital analyst Logan Reich lowered the firm’s price target on Domino’s Pizza (DPZ) to $450 from $500 and keeps a Sector Perform rating on the shares after its Q3 earnings beat but “softer Q4 outlook against a low bar”. Broader restaurant demand was softer in September and October, where Q4 Street estimates likely come down by about 150bps and at least 130bps in the U.S. and International business respectively, the analyst tells investors in a research note.
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