Feb. 24 at 3:02 PM
JPMorgan Chase upgraded Domino’s Pizza to Overweight from Neutral with a
$450 price target, arguing that consistent market share gains and its stable, franchise-heavy model support buying the stock near current levels.
Domino’s continues to show steady U.S. growth, closing just 23 of 7,186 stores over the past three years and projecting 172 net openings in FY2025 (~2.4% unit growth). JPMorgan sees continued expansion potential within a larger addressable market.
The bank described Domino’s franchise-based structure as structurally low cost, supported by roughly 44% carryout sales and a strong delivery network. It advised investors to look beyond near-term comparisons tied to recent initiatives, including the 2025 stuffed crust launch, a
$9.99 unlimited toppings promotion, and the addition of DoorDash to complement Uber Eats.
$DPZ $JPM