Domino’s Pizza price target raised to $490 from $460 at Bernstein

Bernstein raised the firm’s price target on Domino’s Pizza (DPZ) to $490 from $460 and keeps a Market Perform rating on the shares. The firm says it was shocked at the market reaction post-earnings. While the category growth remained flat in the U.S., Domino’s showed another quarter of market share gains, posting domestic same-store sales of 3.4% and international same-store sales of 2.4%. With international markets commentary not worse than anticipated, the stock price retraction suggests that investors have looked at the sales beat as a one-time gain, but Bernstein disagrees.