Australian Domino's operator slips after Citi lowers PT
BUZZ-Australian Domino's operator slips after Citi lowers PT Updates
** Domino's Pizza Enterprises DMP.AX slips as much as 2.88% to A$15.18, notching its steepest intraday decline since June 30
** Citi lowers price target for DMP by 3% to A$16.90, maintains "neutral" rating
** KFC operator Collins Foods CKF.AX posted on Tuesday a decline in same-store sales in European markets
** Following CKF's results, Citi cuts earnings forecasts from FY26 to FY28 for DMP, which also owns the master franchise for Domino's in some European markets
** However, brokerage says new group CEO, Joe Jordan, "appears to have a strong pedigree' although more conviction around turnaround duration is needed
** Fifteen analysts "hold" rated on avg, with median PT A$18.00 - LSEG-compiled data
** YTD, shares down 27.4%
(Reporting by Nichiket Sunil and Kumar Tanishk in Bengaluru)
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