Domino’s Pizza Inc.’s DPZ stock was upgraded to buy from hold by Stifel Thursday, with analysts citing the fast-food chain’s growth potential. “Our upgrade reflects our belief that over the next 12 months, the company will stabilize delivery sales and continue growing carryout sales to new record levels,” wrote Stifel analyst Chris O’Cull, in a note. “Better sales performance, lower commodity costs, and higher labor productivity should boost franchisee profitability, sparking greater unit growth,” he added. Stifel also raised its price target for Domino’s Pizza to $350 from $320. Domino’s stock rose 6.6% Thursday.
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