BTIG defended its bullish view on Papa John’s Worldwide (NASDAQ:PZZA -3.3%) after shares circled on Thursday from an early post-earnings achieve.
Analyst Peter Saleh and staff suppose traders needs to be inspired by the tempo of unit improvement for Papa John’s, with the brand new goal for 2022 set at 280 to 300 models. The long-term unit progress goal additionally impressed BTIG, with Papa John’s (PZZA) guiding to open 1,400 to 1,800 web new eating places by the tip of 2025. Saleh famous that the steerage represented almost 30% progress on the midpoint towards the worldwide unit footprint on the finish of 2021.
BTIG has a Purchase score on Papa John’s and value goal of $125.
Through the earnings convention name, Papa John’s execs talked up the international growth opportunity.
Learn extra concerning the Q1 earnings report.