While investors gave a muted reaction to Domino’s Pizza Inc's (NASDAQ:DPZ) strong results, the company is likely to witness "a strong year ahead," according to Morgan Stanley.
The Domino’s Pizza Analyst: Analyst Brian Harbour maintained an Overweight rating, while raising the price target from $514 to $520.
The Domino’s Pizza Thesis: The company reported US same-store sales of 3.4%, beating consensus of 2.0%, Harbour said in the note.
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Domino’s Pizza reiterated its U.S. and international unit growth expectations, he added.
The analyst expects the company's 2025 US and international comps to increase to 3.3% and 2.1%, respectively.
"For the next year or so, DPZ’s numbers still feel achievable, if not beatable to us, and guidance stands here, while the company is executing well on several key initiatives to drive solid growth," he further wrote.
Price Action: Shares of Domino’s Pizza had declined by 0.50% to $478.56 at the time of publication on Wednesday.
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