Papa John's problems are concept-specific, while Domino's has solid fundamentals despite its recent 15-percent pullback, Anderson said. (See Anderson's track record here.)

Maxim Group raised its price target for Domino's from $220 to $230. 

Domino's Pizza will continue to use technology to gain market share, Anderson said. The Ann Arbor, Michigan-based company's $7.99 large pizza promotion and Piece of the Pie loyalty program are projected to have a positive short-term impact on sales, the analyst said. 

Domino's Pizza could gain market share from Papa John's as a result of the latter company's problems with NFL sponsorship, said Anderson.

Anderson increased his EPS estimates for the fourth quarter of 2017 from $1.97 to $1.98; from $7 to $7.05 in 2018 for 2018; rom $8.30 to $8.39 for 2019 to reflect increased comp and unit growth forecasts.

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