Papa John’s price target lowered to $40 from $49 at Stephens

Stephens analyst Jim Salera lowered the firm’s price target on Papa John’s (PZZA) to $40 from $49 and keeps an Overweight rating on the shares. The company’s Q4 results showed continued pressure in North America with comps coming in below expectations, the analyst tells investors in a research note. The firm believes Papa John’s near-term sentiment will likely remain “constrained” due to its traffic reset and planned menu simplification headwinds. However, Stephens remains “constructive” on Papa John’s longer term.