CNBC's Jim Cramer on Friday explained why Domino's Pizza stock soared this week, going from $298 to $331, with a 6.5% gain on Thursday alone. Domino's has been struggling with a post-Covid hangover, Cramer said, plummeting last month to its lowest levels since the pandemic, where its delivery services became a popular option for those stuck at home. But besides the general hype about restaurant chains after Cava's successful initial public offering, Cramer thinks Domino's performed so well in part due to bullish reports released this week from analysts at Piper Sandler and Stifel. The analyst at Stifel, Chris O'Cull, upgraded Domino's from hold to buy, arguing the company will "will stabilize delivery sales and continue growing carryout sales to new record levels." "While the next earnings report likely won't be anything special—in other words, don't buy it for the next quarter—after these two terrific notes, I'm feeling like Domino's stock must be bottoming, right?"

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Persons: CNBC's Jim Cramer, Domino's, Cramer, Piper Sandler, Stifel, Brian Mullen, Mullen, Chris O'Cull, O'Cull Locations: Stifel