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Credit Suisse reiterates 'outperform' on Domino's Pizza

Market Buzz

Credit Suisse reiterates 'outperform' on Domino's Pizza

Fri, 11 August 2017
Article viewed 111 times
Credit Suisse reiterates 'outperform' on Domino's Pizza
Domino's Pizza Group Quote more

Price: 329.00

Chg: 3.70

Chg %: 1.14%

Date: 17:00

FTSE 250 Quote

Price: 20,146.88 Chg: 15.36 Chg %: 0.08% Date: 16:54

(ShareCast News) - Analysts at Credit Suisse reiterated their 'outperform' recommendation on shares of Domino's Pizza following the company's creation of a joint-venture with its largest franchisee in the capital.
The Swiss broker said it liked the long-term attractions of the business model, pointing out that while it was "unusual" it should generate a decent return on invested capital.

To back up its observation, it argued that returns on store openings - which it pegged at between three or four a year for the JV from 2018 - were "attractive"
and that London was underserved.

However, it also said: "This marks a move back into UK store ownership and might meet some skeptical responses about a lack of franchisee willingness to invest behind growth."

Credit Suisse estimated that the purchase price implied a current multiple of roughly between 10 and 11 times EBITDA.

Still at 365p, the target was also unchanged.