Miller Tabak Raises Price Target on Dominos (DPZ)

Miller Tabak reported on Tuesday that it has raised its price target on pizza delivery company, Domino’s Pizza, Inc.(DPZ).

The firm reaffirmed a “Buy” rating for DPZ, and has increased the company’s price target from $50 to $52. This price target suggests a 6% upside from the stock’s current price of $48.63.

An analyst from the firm commented, “in our view, DPZ’s focus on new products—rather than steep discounts—will continue to help the company deliver not only segmentleading comp growth and market share gains, but also increased profits. We also expect international new unit expansion to be an important lever for sustained double-digit EPS growth, and given the strong finish to 2012 new unit development, we anticipate this expansion overseas will accelerate in the next two years. We view DPZ’s new dividend as a positive, though think the company still has ample cash for EPS-boosting share buybacks.”

Domino’s Pizza shares were mostly flat during premarket trading Tuesday. The stock has increased 28% in the past year.

The Bottom Line
Shares of Domino’s Pizza, Inc.(DPZ) have a 1.65% yield, based on Monday’s closing price of $48.63.

Domino’s Pizza, Inc.(DPZ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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