-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
We lower our 12-month target price by $66 to $355, 19x our 2026 EPS estimate (from 23x), a discount to its 25x three-year average, reflecting ongoing competitive and macroeconomic risks to earnings growth. We raise our 2026 EPS to $18.65 from $18.29 and lower 2027's to $19.45 from $19.74, reflecting low single-digit U.S. comp growth and mid-single-digit operating income growth. We reiterate our Hold opinion given softer carryout (+2.4% Y/Y) and delivery sales (-0.3% Y/Y) along with expanded promotional activity, offset by strong unit growth (+180 net stores) and 20% operating margins that reinforce DPZ's long-term competitive position. We raised our 2026 EPS estimate on better-than-expected margin stability despite promotional activity, though our estimates remain roughly 5% below consensus. We believe increased direct value competition with non-pizza QSR competitors on aggregator channels could limit recovery in DPZ's delivery channel growth, representing a headwind to the company's long-term growth algorithm.