Papa John's Downgraded by Bank of America Due to Turnaround Concerns and Lower Forecasts
Bank of America downgraded Papa John's International (NASDAQ:PZZA) from 'Neutral' to 'Underperform', citing concerns over the company’s recent CFO departure, competitive pressures in the pizza sector, and a less optimistic outlook for same-store sales growth. The brokerage also reduced its price target to $34 from $42.
Topics: Restaurant Industry Stock Downgrades Turnaround Strategy