Oppenheimer has regained its appetite for Domino's Pizza shares.
Analyst Brian Bittner named the Michigan-based pizza chain a top pick and raised his price target to $450.
"We view DPZ as an under-appreciated revival story into '24, and elevate the idea into our 'top picks,'" Bittner said in a note to clients Tuesday.
But Bittner tied that past pessimism to a downward revision cycle that he now believes has ended.
"Following an updated analysis, we believe EPS estimates have bottomed and identify self-help catalysts for a positive revision cycle set to unfold," he said.
Persons:
Oppenheimer, Brian Bittner, Bittner, Domino's, there's, optionality we've, — CNBC's Michael Bloom
Organizations:
Pizza, SSS
Locations:
Michigan