Goldman Sachs Removes Domino’s Pizza From “Conviction Buy” List (DPZ)

Early on Thursday, Goldman Sachs downgraded Domino’s Pizza, Inc. (DPZ) as the pizza chain’s valuation approached the analysts’ prior price target.

The analysts downgraded DPZ from “Conviction Buy” to “Buy” with a new price target of $60, up from $56. This new valuation suggests a 21% upside to Wednesday’s closing price of $49.65.

“We remove DPZ from the Americas Conviction List, as the shares have approached our prior price target. We retain our Buy rating, as we believe DPZ’s long-term fundamentals and growth potential remain intact,” said Goldman Sachs analyst Michael Kelter.

Domino’s shares were inactive during pre-market trading on Thursday. The stock is up +14.01% year-to-date.

The Bottom Line
Shares of Domino’s Pizza (DPZ) have a dividend yield of 1.61% based on last night’s closing price of $49.65 and the company’s annualized dividend payout of 80 cents per share.

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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