Papa John’s price target lowered to $49 from $50 at Stephens

Stephens analyst Jim Salera lowered the firm’s price target on Papa John’s (PZZA) to $49 from $50 and keeps an Overweight rating on the shares after Q3 came up short on North America comps, total revenue, adjusted EPS and unit development. While near-term sentiment is likely to remain pressured, the firm sees key initiatives – including digital modernization, refranchising, and supply chain savings – positioning the company to build momentum in FY26.