Papa John's Price Target Cut By Analyst As Inflation Pressure Persists

by Shivani Kumaresan, Benzinga Staff Writer

August 5, 2022 4:06 PM | 1 min read |

KeyBanc analyst Eric Gonzalez maintained an Overweight rating on Papa John’s International Inc PZZA shares and lowered the price target to $105 from $110 (14% upside).
The analyst thinks Papa John’s 2Q22 International segment trends missed consensus forecasts, primarily due to volatility in the U.K.
Gonzalez further added that the company’s lower margin guidance suggests inflation pressures are likely to persist for longer than previously anticipated.
The company reported $522.67 million in Q2 revenue, missing the consensus of $529.63 million.
Price Action: PZZA shares closed lower by 2.07% at $91.95 on Friday.