According to a news report from Forbes.com, “An analyst raised her price target on Domino’s Pizza Inc. Wednesday, expecting same-store sales to remain strong for the rest of the year.”
“Domino’s on Tuesday reported a second-quarter profit that topped Wall Street expectations, as same-store sales growth helped lift results. Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones,” said the story. “Domino’s said same-store sales rose 2.1 percent in domestic stores and 3.9 percent overseas.”
“Friedman Billings Ramsey analyst Ashley Woodruff said U.S. same-store sales turned positive for the first time in five quarters and raised her price target by $1 to $24, implying upside of 13 percent from Tuesday’s $21.21 closing price,” according to the article.