Goldman Sachs Raises Price Target on Dominos (DPZ)

Goldman Sachs Raises Price Target on Dominos (DPZ)

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Goldman Sachs reported on Friday that they have raised their price target for pizza delivery company, Domino’s Pizza, Inc. (DPZ).

The firm, which currently has DPZ on their Conviction Buy List, has raised the company’s price target from $52 to $56. This price target suggests a 14% upside to the stock’s current price of $48.03.

Analyst Michael Kelter commented, “we lower our 2013/2014 EPS estimates to $2.37/$2.74 with improved fundamentals offset by higher incentive compensation. We also introduce a 2015 EPS estimate of $3.19. We raise our P/E and DCF-based 12-month price target by $4 to $56, despite the lower EPS estimates, to reflect a 5.0% 2014 FCF yield as robust fundamentals help it bridge the gap versus peers.”

Domino’s shares were up 46 cents, or 0.97% during Friday afternoon trading. The stock has increased 25% in the past year.

The Bottom Line
Shares of Domino’s Pizza, Inc. (DPZ) have a 1.67% yield, based on Friday afternoon’s price of $48.03.

Domino’s Pizza, Inc(DPZ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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