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Papa John’s price target lowered to $50 from $65 at Benchmark

Benchmark lowered the firm’s price target on Papa John’s (PZZA) to $50 from $65 and keeps a Buy rating on the shares. The firm is cleaning up prior modelling to reflect the new segment reporting structure that Papa adopted with Q4 results, as well as taking a more conservative view on domestic systemwide same-store sale results for both Q1 and Q2, the analyst tells investors ahead of earnings.

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