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07-21-2016, 04:54 PM
Here's a weird analyst theory on why Americans are eating more pizza
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Papa John's International Inc. is poised to perform well as civil and political disruptions ahead of a contentious U.S. election prompt Americans to stay in rather than eat out, according to KeyBanc Analyst Chris O'Cull.
The analyst upgraded the stock to "overweight" from "sector weight" and upped his price target to $80, which is the highest among analysts surveyed by Bloomberg.
SEE ALSO: Papa John's tumbles on sales miss, tepid profit outlook (http://www.bloomberg.com/news/articles/2015-11-04/papa-john-s-tumbles-on-disappointing-sales-tepid-profit-outlook)
On the heels of this upgrade, the stock is up more than 3 percent as of 11:00 a.m. New York time:*
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Image: Bloomberg
"After speaking with several large operators and industry contacts, we believe the recent decline in casual dining restaurant*segment fundamentals—traffic down 3-5 percent the past several weeks—may be the result of consumers eating more at home amid the current political/social backdrop, which we believe could last through the **vember election," he writes. "We do **t believe the consumer has 'entrenched,' but has likely shifted more in favor of convenience, benefiting pizza delivery operators like Papa John's." Read more... (http://mashable.com/2016/07/21/papa-johns-pizza-delivery-unrest/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
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Papa John's International Inc. is poised to perform well as civil and political disruptions ahead of a contentious U.S. election prompt Americans to stay in rather than eat out, according to KeyBanc Analyst Chris O'Cull.
The analyst upgraded the stock to "overweight" from "sector weight" and upped his price target to $80, which is the highest among analysts surveyed by Bloomberg.
SEE ALSO: Papa John's tumbles on sales miss, tepid profit outlook (http://www.bloomberg.com/news/articles/2015-11-04/papa-john-s-tumbles-on-disappointing-sales-tepid-profit-outlook)
On the heels of this upgrade, the stock is up more than 3 percent as of 11:00 a.m. New York time:*
http://i.amz.mshcdn.com/Ym93yCJHOcQOMyTAqzJucPxZhJA=/fit-in/575x4096/https%3A%2F%2Fblueprint-api-production.s3.amazonaws.com%2Fuploads%2Fcard%2Fima ge%2F152215%2F-1x-1__1_.jpg
Image: Bloomberg
"After speaking with several large operators and industry contacts, we believe the recent decline in casual dining restaurant*segment fundamentals—traffic down 3-5 percent the past several weeks—may be the result of consumers eating more at home amid the current political/social backdrop, which we believe could last through the **vember election," he writes. "We do **t believe the consumer has 'entrenched,' but has likely shifted more in favor of convenience, benefiting pizza delivery operators like Papa John's." Read more... (http://mashable.com/2016/07/21/papa-johns-pizza-delivery-unrest/?utm_campaign=Mash-Prod-RSS-Feedburner-All-Partial&utm_cid=Mash-Prod-RSS-Feedburner-All-Partial)
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